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Warren Buffett Will Buy Ketchup, But Not Magazines

Warren Buffett phoned in to CNBC this morning following the news of his $28 billion acquisition, along with private equity, of H.J. Heinz. Which means, among other things, that the Secretary of State is about to be a whole lot richer. That deal aside, Buffett is also bullish on newspapers. Last year his company acquired dozens of papers across the country. But his love of media does not extend to magazines, apparently. Following news yesterday that Time Warner is ready to sell several Time Inc. titles to Meredith, CNBC’s Andrew Ross Sorkin asked Buffett, “You obviously love the print business, but would you ever buy a magazine?”

“No. The answer is no,” said Buffett.

Buffett will be on Liz Claman‘s FBN show later today.

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