Parsad Posted May 24, 2012 Share Posted May 24, 2012 Article on a memo Buffett wrote, saying they will probably buy more newspapers. Cheers! http://finance.yahoo.com/news/warren-buffett-eyes-more-newspapers-160801285.html;_ylt=AjpNkVvec1ULTUyLlOKwh6.iuYdG;_ylu=X3oDMTQ0dDNvMTlwBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDNGI2YTQ0MDItZDBmMS0zMzE0LTg2MjQtZDc2ZTMzNDhjOGI4BHBvcwM0BHNlYwN0b3Bfc3RvcnkEdmVyA2Q3Zjc3YzEwLWE1YzAtMTFlMS1iZmRlLTU2MjE3ZjMzMTMxYg--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3 Link to comment Share on other sites More sharing options...
uncommonprofits Posted May 24, 2012 Share Posted May 24, 2012 Article on a memo Buffett wrote, saying they will probably buy more newspapers. Cheers! http://finance.yahoo.com/news/warren-buffett-eyes-more-newspapers-160801285.html;_ylt=AjpNkVvec1ULTUyLlOKwh6.iuYdG;_ylu=X3oDMTQ0dDNvMTlwBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDNGI2YTQ0MDItZDBmMS0zMzE0LTg2MjQtZDc2ZTMzNDhjOGI4BHBvcwM0BHNlYwN0b3Bfc3RvcnkEdmVyA2Q3Zjc3YzEwLWE1YzAtMTFlMS1iZmRlLTU2MjE3ZjMzMTMxYg--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3 Perhaps the best kept secret in this realm is Glacier Media (GVC.TO). Glacier has been predicting this from the start several years ago and have been concentrating their newspaper portfolio in these types of communities through several acquisitions. The stock is cheap -- I am projecting a conservative FCF yield of 25% for 2012. Disclosure: I own a lot of GVC (18-19% of the portfolio). Link to comment Share on other sites More sharing options...
Grenville Posted May 24, 2012 Share Posted May 24, 2012 Warren's letter to the newspapers: http://dataomaha.com/documents/warren-buffetts-letter-to-publishers-and-editors Link to comment Share on other sites More sharing options...
leftcoast Posted May 25, 2012 Share Posted May 25, 2012 Warren's letter to the newspapers: http://dataomaha.com/documents/warren-buffetts-letter-to-publishers-and-editors Man, he's a good writer. Link to comment Share on other sites More sharing options...
Packer16 Posted May 26, 2012 Share Posted May 26, 2012 How do you get a FCF yield of 25% for Glacier? My TTM FCF is closer to $32 million which is closer to a 17% FCF yield. This in line with other mature media firms like SALM - 18% and SGA - 16% but below others like LTV - 42%. I have about a 6.5x EBITDA valuation in line with other mature media properties (TV/radio) but above declining properties like newspapers. I think this is a good return with a good jockey. Packer Link to comment Share on other sites More sharing options...
Liberty Posted May 27, 2012 Share Posted May 27, 2012 Man, he's a good writer. He's a superb writer, which I think is a sign of extreme clarity of thought. Link to comment Share on other sites More sharing options...
jeffmori7 Posted June 6, 2012 Share Posted June 6, 2012 Again, newspapers! http://www.reuters.com/article/2012/06/05/us-berkshirehathaway-leeenterprises-idUSBRE85419R20120605?feedType=RSS&feedName=innovationNews&rpc=43 Link to comment Share on other sites More sharing options...
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