Warren Buffett tells us that he chose not to buy the Washington Post because he was not looking to place an added burden on his family or his company.
Berkshire Hathaway Inc., Buffett’s investing conglomerate, was also the largest shareholder of the Washington Post prior to it being sold to Amazon and Jeff Bezos, so it’s no doubt that Buffett thought about making the purchase.
Buffett told Fortune magazine that his consideration was only brief. He didn’t want to buy the Post because he wasn’t ready to saddle his children or the next CEO of Berkshire Hathaway with a major metropolitan newspaper.
Berkshire and company currently own 31 medium and small sized daily newspapers all purchased by Buffett.
Buffett really didn’t say specifically why he chose to pass on the Washington Post. But in the past, he has mentioned on a number of occasions that he believes smaller newspapers are going to do much better in today’s digital information age because of the community aspect.