America’s Road To Wealth

  Chapter 489 enters The Washington Post

  According to the data on April 30, 2002, the average daily circulation of the "Washington Post" was 868,023 copies.

   Ranked behind the "Los Angeles Times", "New York Times", "Wall Street Journal", "USA Today", and tied for sixth place with the newly emerging "American Sun".

   At the same time, it is not just a newspaper.

  It has about 6,000 employees and owns 6 TV stations.

The six stations are Detroit's Wp/TV4, Miami/Fort Lauderdale's WPLG/TV10, Orlando's WCPX, which was renamed WKMG in 1998 in honor of Katherine Meyer Graham TV station, and WJXT/TV4 in Jacksonville.

   But its most famous, of course, is the newspaper "Washington Post".

   Considered by many to be the most prestigious newspaper in America after The New York Times.

  Because it is located in the US capital, it is particularly good at reporting political developments in the United States.

  The "New York Times" is more prestigious in reporting international affairs.

   Some people also accused the "Washington Post" of paying too much attention to Zhengzhi and ignoring other reports.

   It may be for this reason that the "Washington Post" has brought Katherine Graham a great influence in the positive world of the United States.

  She has a good relationship with many high-level officials in the empire.

   This is actually very understandable, because her newspaper can often affect the election of these big shots.

   Even if it's just to keep her from getting too much attention from the reporters of the Post, those bigwigs will give her a little face.

  Just because of this, the Post has always been inferior to several other large newspapers with similar sales in terms of attracting advertisers.

  If you think about it, you will know that in this kind of newspaper, product advertisements that are too civilian must not be suitable to appear.

  This greatly limits the income of the post company in terms of advertising fees.

   This is why after entering the new century, its sales and income will become the fastest-shrinking newspaper among the top ten best-selling newspapers in the United States.

   You must know that in the last century, it once ranked first in the United States regardless of its influence and sales.

  In summary, because it pays too much attention to the political affairs in the United States, it has a very high status in the political circles of the United States, and it is almost becoming the official media of the United States.

   But it is not, and because of this reason, its income is not as good as its reputation.

   In the end, she was caught in a dilemma. In the parallel time and space, it was even sold for only 250 million US dollars in the end...

  However, it was its professionalism and status in political governance that greatly attracted Abel.

  The reason is actually very simple, because Smith Media just needs such a professional newspaper that is very influential in the United States.

  Smith Media currently has more than 80 newspapers in the United States.

  But most of them are regional newspapers, and there is only one influential one, the "American Sun".

   It's just that the "American Sun" is similar to its foreign counterparts with the same name.

  It is extremely biased towards popular entertainment news.

  The style is similar to that of the New York Post, even more extreme.

   To put it simply, this is a newspaper that entertains to death, relying on various eye-catching headlines and content to boost sales and influence.

  It and the "Washington Post" go to two extremes.

  This also gives it an unparalleled ability to attract advertisers.

  The influence of this newspaper is just that, but it is very profitable, and it is currently the most profitable newspaper of Smith Media.

  In addition to the "American Sun", Smith Media has the national influence of the paper media, and only the semi-monthly "New York Observer" and its global version "World Observer" remain.

  Other newspapers and magazines, most of them sell about 100,000 copies, and their influence is generally only in the area where they exist.

   Like the Indiana Star in Indiana.

   It is very obvious that at this time, Smith Media can put the "Washington Post" in its pocket.

  Then it can complement Smith Media, which is a professional newspaper in the United States, especially the serious political and social sections.

  This is why Abel now approached Buffett to contact Don Graham.

  Everyone in the United States knows that Buffett and Don Graham's mother are "good friends."

  Katherine Graham was once considered crazy as Buffett's mistress...

   "Currently in the market, the market value of the Washington Post Company is less than 1.8 billion US dollars. Compared with its peak value of 5 billion US dollars, it has fallen by 277.7%."

  In Don Graham's office.

  Abel patiently persuaded the people in power of the Graham family.

   Patience is not the legacy of Katherine Graham.

   Instead, as the capital region of the empire, a dominant newspaper group is in power.

  The Graham family, which has controlled the Post Company for decades, does not know how many secrets of the high-level empire they have mastered.

   With this hand, the Graham family has a lot of face in Washington.

   If Don Graham dares to kill the net, then Washington is bound to usher in an invisible super earthquake.

   Having said that, this reason is also one of the reasons why Abel wants to acquire the Washington Post Company...

  “Obviously, for a long time in the future. The global print media will usher in a cold winter. In the cold winter, it is not easy to be alive.”

   "The post company, which mainly relies on the "Washington Post", will definitely face greater challenges in the long cold winter."

"I have a lot of appreciation and admiration for Ms. Katherine Graham. However, it turns out that even if she is still alive, it is difficult to change this situation. Because this is not a labor pain, this is a disruptive change for the entire industry. As far as I know, the Post The revenue decline of the newspaper company started five years ago. At that time, your mother was still alive."

   In the face of Abel, he was polite and courteous, and he was persuaded by reasoning and presenting data.

  Besides, Buffett interrupted from time to time, and Don Graham struggled endlessly.

  Actually, Tang wanted to say that he was confident that he would bring the Post Company out of this cold winter.

   But sitting in front of him are Abel Smith and Warren Buffett.

  He feels that on this planet, there is no third person who can surpass the two in front of him in terms of market control.

  The two people in front of them think so. Then Don Graham felt that he might not be able to do what he wanted to do.

   "Huh—"

  Take a deep breath, and then let it out.

  Don Graham tried his best to appear calm, but his heart was still turbulent one after another.

   "Mr. Smith, honestly, how much are you going to pay me?"

  Ha~

  Abel looked up at Buffett, who smiled helplessly at him.

  Since Don Graham said so, the two already understood that this is the heir to the "First Lady of the American Press", and they have already surrendered in their hearts.

   "$2 billion. A premium of more than 10%. The Graham family can get about $650 million in cash immediately."

  Abel direct quote.

  The Graham family holds the Washington Post Company, about 32% of the shares.

  Plus the 11% that Buffett has sold to himself. In other words, after the deal is concluded.

  I will hold more than 43% of the shares of the Washington Post Company and become an absolute major shareholder.

   At that time, whether it is mergers and acquisitions, or privatization and delisting.

  The "Washington Post", which ranks among the top 6 in the United States, ranks first in politics, and is already close to the official media of the United States, will be owned by Smith.

  This can greatly promote the influence of Smith Media and Abel's influence on the American arena.

   "Mr. Smith, Graham doesn't want cash." Don Graham said softly:

   "I want to replace these shares with the original shares of Smith Media or Smith Financial Group."

  Abel and Buffett looked at each other again, making eye contact—

   This guy is not stupid.

  $650 million seems like a lot. It is already more than 60% of the Graham family's net worth.

   Armed with such a large amount of cash, Don Graham could become one of the most popular guests on Wall Street.

   But these are imaginary, things like cash, they are only valuable when they flow.

   If left in the bank, it will only depreciate or be squandered.

   Or—with the bank's failure, and finally nothing.

   Now Don Graham wants to exchange the money for the shares of Smith Media, which is very popular in the investment market.

   Even shares of the more popular Smiths Financial Group. This is the real means of preservation.

  Don Graham chose this timing well. And because of Buffett, and now the Washington Post Company is indeed worth so much money.

  Abel did not intend to refuse his request.

  Abel said directly: "No problem, but a discount is required. Tang, I think you understand that the shares of Smith Media are not so easy to get now."

  As for the shares of Smith Financial Group, Abel didn't even bother to mention it.

  Because that is no longer something that can be obtained purely by money.

   If only money could buy it. Those chiefs and local tyrants in West Asia are even willing to pay a premium several times.

  Since Buffett joined. The original Smith Capital, now the stock of Smith Financial Group.

  It has become an expensive asset that can only be obtained after resource exchange.

   Without resources like Buffett, Soros, PNC Financial Group, or Morgan and Rockefeller that can help Smith, then it is impossible to get the shares of the financial core of this Texas consortium.

   Don Graham felt very sorry for not being able to get the shares of Smith Financial Group.

  He knew that for the Graham family, it could be regarded as losing a channel for upward promotion.

   Fortunately, this channel is already beyond reach.

   Tang just wanted to try it out.

   It's the best if you can get it, it doesn't matter if you can't get it.

  Now you can get shares in Smith Media.

   This is already a good choice for Graham, who is going downhill.

   "No problem." Don Graham was very straightforward, "But it needs to be calculated by my lawyer, actuary, and accountant."

   "OK." Abel was also very straightforward.

  Smith Media, which is about to go public, needs the blessing of the Washington Post very much.

  The news of the successful acquisition of the Washington Post spread. At the very least, the valuation of Smith Media's listing can increase by more than 10%.

  In the current time period, this is a very good choice for both parties.

  This is why Don Graham is willing to compromise.

  After the negotiation was concluded, Abel and Buffett did not stay in the Post Company building for long.

  Out of the building, Buffett suggested that Abel go to the nearest McDonald's to "have a drink".

   “Going to McDonald’s for a drink? What? Coca-Cola? I don’t like fizzy drinks.”

   "Who said McDonald's only has Coca-Cola? There are other sodas, as well as coffee!"

"Alright alright."

  Abel compromised.

   Soon, near the Post Building, the nearest McDonald's was cleared, and a signboard for temporary rest was put up.

  Buffett's security team, along with Rock Security staff, took over the neighborhood.

   Not long after, the PC Bureau in Washington, which is closest to this McDonald's, also "coincidentally" sent several police cars and a large number of police officers to patrol and stop nearby.

  This world is so unfair.

  The top boss of the empire is so mobilizing people just by eating a McDonald's.

   Unlike ordinary Americans, when eating McDonald’s, sometimes they have to worry about accidental injury from stray bullets.

  So many people say that the wealthy class and ordinary people in the United States have been "reproductively isolated" in a physical sense.

  Although we live in the same country, we do not live in the same world.

  On weekdays, there is basically no chance to meet each other.

  Under such circumstances, how could the elites of the empire understand the demands of the common people in the empire?

   This is where the decline of the empire lies.

  It's already noon.

  Abel looked at Buffett, in front of him, eating a hamburger and Coca-Cola.

   "At your age, with this appetite. That's nice."

   "Why? Oh, newspapers say that McDonald's and Burger King are unhealthy foods. I think this is actually wrong."

  Buffett parted the hamburger that had already taken a big bite in his hands, and separated it a little.

   "Look, a hamburger is made up of bread, lettuce, and beef or chicken. Each of these important components is considered healthy food by the newspapers, so why are they combined to be unhealthy junk food?"

  Abel knew that Buffett was making unreasonable words.

  Meat, bread and lettuce, they are indeed healthier foods.

  When they form hamburgers, they will be added with a lot of mayonnaise, salad dressing, even corn syrup and sugared ketchup that Americans like.

  These sauces make them more in line with American tastes, with a sweet taste.

  The huge calories they contain also make most American-style hamburgers a junk food in terms of health and nutrition.

  Foreigners say that the United States is a country on wheels, but in fact, from another angle, it can also be said that the United States is a country filled with corn syrup.

  The food industry in this country has abused corn syrup to the point of insanity.

   And this will happen only if the big agricultural capitalists and confectionary capitalists need to create demand for their corn and molasses.

  For this reason, they successfully made Americans the most obese group in the world.

  What is this concept? One out of every three people on the streets of the United States is overweight or obese. This is a terrifying statistic.

   Not to mention that the obesity standard of Americans is exaggerated. Their overweight, in many other parts of the world, already belongs to the standard of severe obesity.

   After killing most of the hamburger, he watched Abel remain indifferent to the food in front of him.

  Buffett: "Why don't you eat?"

   "I don't like to eat these." Abel said directly:

   "Warren, you asked me to come here. You didn't really just want to buy me a drink, or buy me a meal at McDonald's, did you?"

"Forehead…"

   "Okay." Buffett said.

"I want to know, I heard that you got into a fight with John Chris Morgan? Is that true? In the past two days, DC has been very tense. A large number of PCs and National Guards have been called in, depending on the situation Not quite right."

  Abel knew that the old man called himself here just to understand this matter.

  About Washington's massive mobilization of PCs and National Guards, this is also the cooperation and agreement between Abel and Morgan.

  The mobilized armed personnel, even ordinary people can feel a special atmosphere.

   Not to mention a well-informed person like Buffett.

  Whether it is in stock trading or standing in line, the old man is a real insider.

  My father was a member of Congress back then. Take him to Wall Street when he was 10 years old, and he was personally interviewed by the president of Goldman Sachs.

  Ya is not a grassroots at all, not even a middle class, but one of the American "princes" families in Nebraska.

  Before the rise of Warren Buffett, the Buffett family in Nebraska was already equivalent to the Texas bushes before Herbert became the commander-in-chief.

  Such forces, coupled with Buffett's current status in the American financial community.

  Even if he didn't participate in the Federal Advisory Committee meeting, the old man could still receive many inside information that the upper echelons of the empire could not receive.

  Morgan and Smith's "fight" is not even inside information, because both parties are deliberately spreading it.

  Let’s not talk about Buffett, ordinary American giants can know this kind of thing through their connections.

  The insider information Buffett receives is naturally of a higher level.

   And now, the old man is asking Abel to verify whether his inside information is true.

   "It's true. John Chris's face may still hurt a little now." Abel responded softly with a smile.

  Buffett shook his head, "You know what I want to know, it's not like this at all."

  Abel restrained his smile and looked at the old guy seriously.

   Buffett also looked at him without giving in.

   After a long while, Abel said softly, "Okay. Warren, I think, I think...you should be entitled to know. Yes, they and I are good friends now. Do you understand what I mean?"

  Buffett smiled directly, looking very relaxed.

   "Hahaha—Of course I do. Of course I do. That would be great."

  Abel also smiled.

  He knew that these people were unreliable.

   Buffett is the same.

  (end of this chapter)