Originally written on 24 May ’12, updated subsequently.

Last week’s announcement that Warren Buffett’s World Media Enterprises Inc., is acquiring 63 daily + weekly papers across Southern USA from Media General for $142m has created significant buzz across news blogs and commentary sites.

This is Buffett’s 2nd deal in the newspaper space of late – previously in Dec’11 he announced the acquisition of Omaha World-Herald, and other dailies …

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