Dow Jones would make sense for Buffett

by Chris Roush · June 1, 2007

TheStreet.com senior writer Mark DeCambre writes Friday that billionaire Warren Buffett, who has previously said he wasn’t interested in making a bid for Dow Jones & Co., the owner of The Wall Street Journal, would be a perfect owner for the business news publisher.

DeCambre wrote, “But given the financial difficulties of the newspaper business, the ranks of possible buyers appear limited to deep-pocketed investors who can take a financial hit in exchange for the cachet of owning a widely read, highly respected publication.

“That’s where Buffett comes in. He loves the newspaper business almost as much as Murdoch, who wants to pay $5 billion for Dow Jones. To some degree, Murdoch clearly considers Dow Jones’ The Wall Street Journal a trophy asset, rather than a financial one.

“The same could well be true of Buffett, though it’s impossible to know for sure. A call to Buffett’s office was fielded by his assistant, who said he was unavailable to comment.

“Still, the 76-year-old financial guru already owns the Buffalo News in New York and sits on the board of The Washington Post.”