Mr. Buffett: “We had zero interest in selling the group to anyone else for one simple reason: We believe that Lee is best positioned to manage through the industry’s challenges.”
Boole sheet.
From the article: ‘Berkshire will become Lee’s sole lender, allowing it to avoid the fees associated with refinancing and to deliver faster. The company will eliminate its existing $23 million revolving credit facility. It will also enter a 10-year lease for BHMG’s real estate, paying an initial $8 million a year in monthly installments.’
IMHO, there’s your ‘one simple reason’.
Of note: Boiling things down politically, over the past 20 or so election cycles, Lee Enterprises Inc. has donated to Republicans in something close to a 10-1 ratio from ‘those other people’.
Mr. Buffett and Berkshire-Hathaway, not so much.
So far in 2020, Mr. Buffett’s company’s political action committee has donated almost $1.6 million to candidates and sitting elected officials, plus has spent over $3.6 million on lobbying. Recipients of this largesse, with the glaring exception being a few notable patriotic conservatives plus President Trump, are overwhelmingly typical Democrats and establishment RINO’s, plus their organizations (DNC, etc.). Source: OpenSecrets.org.
Mr. Buffett: “We had zero interest in selling the group to anyone else for one simple reason: We believe that Lee is best positioned to manage through the industry’s challenges.”
Boole sheet.
From the article: ‘Berkshire will become Lee’s sole lender, allowing it to avoid the fees associated with refinancing and to deliver faster. The company will eliminate its existing $23 million revolving credit facility. It will also enter a 10-year lease for BHMG’s real estate, paying an initial $8 million a year in monthly installments.’
IMHO, there’s your ‘one simple reason’.
Of note: Boiling things down politically, over the past 20 or so election cycles, Lee Enterprises Inc. has donated to Republicans in something close to a 10-1 ratio from ‘those other people’.
Mr. Buffett and Berkshire-Hathaway, not so much.
So far in 2020, Mr. Buffett’s company’s political action committee has donated almost $1.6 million to candidates and sitting elected officials, plus has spent over $3.6 million on lobbying. Recipients of this largesse, with the glaring exception being a few notable patriotic conservatives plus President Trump, are overwhelmingly typical Democrats and establishment RINO’s, plus their organizations (DNC, etc.). Source: OpenSecrets.org.