Tuesday, September 30, 2008

Washington Post Non Disclosure

Washington Post (WPO) just announced the takeover of Foreign Policy Magazine. Sounds like a good idea that enhances the political clout of Washington Post. The class B shares which trade around $550 a share and are trading near their 52 week lows were up slightly in this mornings early trading.

OK let me get this straight. A news organization that fights for disclosure, clarity, transparency, even the truth, announces a deal with financial implications and utters not one word about the financial ramifications. Lots of verbiage about the editorial side of Foreign Policy, which is all good. But they did not even bother to say that financial terms were not released, or the old stand by where shareholders are directed to obtuse SEC filings.

Basically they are buying it and we should be happy. That’s all folks go back to what you were doing before I bothered you with this one.

Hey is Warren Buffet OK with this one?