In June, we wrote about Berkshire Hathaway’s recent newspaper investments. We followed up that report with a deep dive of the newspaper portfolio of Berkshire’s newspaper investees. In our second installment, we were interested in examining further the newspaper portfolios of the companies that Warren Buffett’s Berkshire Hathaway (BRK.B) has invested in the past and has invested in recently. In this report we will examine the recent performance of Berkshire’s newspaper investments, regardless of whether in the form of public equity, outright ownership, or debt with an equity kicker.

The Washington Post Company (WPO): We’ve already established Buffett’s history with The Washington Post Company and the Graham family. We remembered how Buffett tutored Katherine Graham and her son Donald on how to run a business to maximize shareholder wealth and how Katherine Graham was his ticket to high society. Because of Buffett’s involvement, we expect WPO to handle the shakeout in the news industry better than other firms who did not have the vision to diversify into higher-value content like for-profit education as well as the television business.

While The Washington Post may be the name of the parent company, the flagship newspaper and its Post-Newsweek Media community papers only account for 15% of the company’s revenue.

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