Buffett bucks trend by buying newspapers_美文_趣味英语-查字典英语网

Buffett bucks trend by buying newspapers

"Although newspaper companies seek to capitalize digital revenue through an array of channels, it's unlikely that these gains will be large enough to offset print losses," Moody's analyst John Puchalla wrote.

Analysts say Buffett, the world's third-richest individual with a net worth estimated at $44 billion, is doing what he does best: making a "contrarian" bet by investing in a company or sector beaten down by negative sentiment.

"Newspapers are one-tenth of the price they were a decade ago," said Ken Doctor, a media analyst with the research firm Outsell.

Doctor said Buffett is finding value in these companies because they often own hard assets, including real estate and broadcast properties, and have a strong brand name in their communities.

Questions:

1. How much did Warren Buffett pay to buy Media General?

2. What did Buffett say in his message to newspaper employees?

3. What do analysts say Buffet does best?

Answers:

1. $142 million.

2. That he believes that newspapers that intensively cover their communities will have a good future.

3. He is making a "contrarian" bet by investing in a company or sector beaten down by negative sentiment..

About the broadcaster:

Emily Cheng is an editor at China Daily. She was born in Sydney, Australia and graduated from the University of Sydney with a degree in Media, English Literature and Politics. She has worked in the media industry since starting university and this is the third time she has settled abroad - she interned with a magazine in Hong Kong 2007 and studied at the University of Leeds in 2009.