Investopedia: Berkshire Buys Shares And Controversy

Such is the cult of attention around Berkshire Hathaway (NYSE:BRK.A) and its CEO Warren Buffett that he probably cannot have dinner without a dozen financial columnists debating the merits of him choosing beef, pork or chicken. With Monday's announcement that the company has authorized a share buyback that could be worth close to $30 billion or more, there is rampant second-guessing about the decision and numerous attempts to divine some further meaning in the move.

The Buyback to Be
Buffett has commented in the past that a buyback would only make sense if the shares of Berkshire Hathaway were significantly undervalued and there were no better apparent uses of the company's cash. Apparently both conditions are true in the market today.


To read the full piece, please click here:
http://stocks.investopedia.com/stock-analysis/2011/Berkshire-Buys-Shares-And-Controversy-BRK.A-KO-JNJ-GS-BAC-GCI-WPO0928.aspx

Investopedia: Gannett Looks To Be A Survivor

The "newspapers are doomed" theme has been making its rounds for over a decade now, buoyed in large part by the fact that it's basically true. For the most part, the days of the locally-owned and operated daily newspaper are long gone, or at least gone insofar as a growth story. But that doesn't automatically mean that large media companies like Gannett (NYSE:GCI), New York Times (NYSE:NYT) and McClatchy (NYSE:MNI) are doomed. The question, though, is whether there's any clear way for these companies to unlock whatever value remains of their businesses. 

Another Gloomy Quarterly Report  
Gannett did not post disappointing numbers for the second quarter relative to expectations, and that may be the best that can be said about it. Revenue was down a bit more than 2%, led by the ongoing erosion of the publishing business. Publishing revenues were down almost 5% on a greater than 6% drop in ad revenues. Broadcasting was ever so slightly positive and though digital revenue was up more than 12%, it still comprises just about 13% of total revenue. 


The full article can be found at this link:
http://stocks.investopedia.com/stock-analysis/2011/Gannett-Looks-To-Be-A-Survivor-GCI-MNI-NYT-NWS-GOOG-MWW-WPO0719.aspx

A New Dawn For Old Media?

The publishing world seems to be putting on an impromptu rendition of "Monty Python and the Holy Grail." First we had the scene with the Black Knight where the internet began dismembering old media and old media bravely told us "'tis but a scratch," as gouts of blood spurted out of the cash flow statement. Now, though, we may be to the scene with Eric Idle and John Young, in which Mr. Young bravely declares "I'm not dead yet!" 

What's Old is New AgainIronically, it may be new media and technology that ultimately saves the day for old media. As consumers continue to buy up the Kindle from Amazon (Nasdaq:AMZN) and competing devices like Barnes & Noble's (NYSE:BKS) Nook, Sony's (NYSE:SNE) Reader, and Apple's (Nasdaq:AAPL) iPad, it looks like publishers may have finally accepted the reality that their future is digital.  

For the full article, please go to: 
http://stocks.investopedia.com/stock-analysis/2010/A-New-Dawn-For-Old-Media-AMZN-BKS-SNE-AAPL-NYT0602.aspx