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Strategies & Market Trends : Buffettology
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To: James Clarke who wrote (2514)6/9/2000 2:51:00 PM
From: cfimx  Read Replies (1) of 4690
 
jc, I was surprised to hear Buffet sounding bearish on the papers. I don't think he agrees with the PMVs of these papers (at least he wouldn't pay it). But in the public markets, they were at 6 and 7 times. Big margin of safety.

LEE is also doing a recap, selling the tv stations and buying back stock or other newspapers. my guess is LEE will also end up selling. Eventually there will only be TWO newspaper companies (Gannet and Knight Ridder). <GRIN>
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