Article posted: 12/12/2012 5:16 PM

Buffett latest billionaire to tackle newspaper revival

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Warren Buffett, CEO of Berkshire Hathaway, was born in Omaha has been a loyal subscriber to the Omaha World-Herald for most of his adult life. Now he owns the newspaper and 79 others. "I've loved newspapers all my life — and always will," he wrote recently.

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Warren Buffett, the investor famous for betting on aging industries like railroads and insurance, is now trying to pull off something other billionaires have tried and failed to do: save the newspaper business. His company, Berkshire Hathaway, has spent more than $342 million on 80 newspapers.