Buffet already owns 31 newspapers that operate in small and mid-size cities. It would not be unreasonable for him to consider taking on a paper of the reputation and popularity of the Post. He also has a number of personal ties to the paper, having delivered it to households when he was a youngster and ultimately having a close friendship with the previous owner, the late Virginia Graham, and her son, Don.
Even though Buffet's own company, Berkshire Hathaway (BRK.A), is already one of the largest shareholders in the Washington Post, Buffett still declined taking on ownership of it. Given the many factors that would have made him a natural choice for ownership of the paper, the opportunity was declined. So why is this most notable of investors reluctant to move on such a notable deal?
Buffett himself gives a glimpse of his thinking and motivation in passing on the deal. He said at his age, currently 83, he must consider how his successor at Berkshire would manage the complex process of dealing with a major newspaper subject to a variety of economic pressures in the future. He is concerned how his family would be able to carry such a heavy responsibility when he is not there to help guide them. With this statement, Buffet appears to be showing his usual forethought and measured analysis that his characteristic of his record of financial success.
As CEO of the online shopping giant Amazon (AMZN), Bezos has the experience with new technologies required to thrive in today's media industry. At 49 years old, he can look forward to many years of productive effort to re-fashion the Post to suit the current media market. With a strong reverence