America's Road to Wealth

According to 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", and "USA Today", and tied for sixth place with the newly emerged "American Sun".

At the same time, it is more than just a newspaper.

It has approximately 6,000 employees and also owns six television stations.

The six television stations are WP/TV4 in Detroit, WPLG/TV10 in Miami/Fort Lauderdale, and WCPX in Orlando. They were renamed WKMG in 1998 in honor of Katherine Meyer Graham. television station, and WJXT/TV4 in Jacksonville.

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

It is considered by many to be the most prestigious newspaper in the United States after the New York Times.

Because it is located in the nation's capital, it is particularly good at covering domestic political developments in the United States.

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

Some people have criticized the Washington Post for this, saying that it cares too much about political governance and neglects to report on other aspects.

Perhaps it is for this reason that the "Washington Post" has given Katharine Graham great influence in the American mainstream.

She has good relationships with many high-ranking officials in the empire.

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

Even if it was just to keep her from drawing too much attention from Post reporters, the big guys would give her some slack.

But because of this, the Post has always been unable to attract advertisers compared to several other large newspapers with similar sales.

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

This greatly limits the Post's revenue from advertising fees.

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

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

To sum up, because it pays too much attention to domestic political affairs in the United States, it has a very high status in the political circles of the United States and has almost become 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 put into a dilemma. In parallel time and space, it was only sold for US$250 million...

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 and very influential newspaper in the United States.

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

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

It's just that the American Sun is not much different from its foreign counterparts with the same name.

It is heavily biased towards popular entertainment news.

The style is similar to that of the New York Post, if not more extreme.

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

It and the "Washington Post" are completely opposite extremes.

This also gives it an unparalleled ability to attract advertisers.

The influence of this newspaper is just that, but it is very profitable. It is currently Smith Media's most profitable newspaper.

In addition to "The American Sun", Smith Media's only nationally influential print media is the bimonthly "New York Observer" and its global version "World Observer".

Most of other newspapers and magazines sell around 100,000 copies, and their influence is generally limited to the areas where they exist.

For example, the Indiana Star in Indiana.

It is very obvious that at this time, Smith Media can acquire the "Washington Post".

Then it can complement Smith Media, a professional newspaper in the United States, especially the sections that tend to be serious political and social directions.

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 even crazy as Buffett's mistress...

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

In Don Graham's office.

Abel patiently persuaded the powerful people of the Graham family.

Patience is not a legacy of Katharine Graham.

Rather, he was the leader of a dominant newspaper group in the capital region of the empire.

The Graham family, which has controlled the Post Company for decades, has no idea how many secrets of the empire's top officials they have mastered.

With this skill, the Graham family is very popular in Washington.

If Don Graham dares to fight to the death, Washington will inevitably experience an invisible super earthquake.

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

"Obviously, for a long time in the future, the global print media will face a cold winter. It is not easy to survive in the cold winter."

"And the Post Company, which mainly relies on the "Washington Post", will definitely face greater challenges in the long cold winter."

"I admire and admire Ms. Katharine Graham very much. 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 in 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."

When faced with Abel's persuasion, he was polite, reasonable and presented with data.

Buffett would interrupt from time to time, and Don Graham was struggling internally.

In fact, Tang really wanted to say that he was confident that he could bring the Post Company out of this cold winter.

But sitting in front of him were Abe Smith and Warren Buffett.

He felt that there was no third person on this planet who could surpass the two people in front of him in terms of market control.

Both of the two people in front of me thought so. Then Don Graham felt that he probably didn't have the ability to do what he wanted to do.

"call--"

Take a deep breath and let it out.

Don Graham tried to appear calm, but his heart was still turbulent.

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

Ha~

Abel raised his head and glanced at Buffett, who smiled helplessly at him.

Now that Don Graham said this, the two of them already understood that this was the heir to the "First Lady of American Journalism" and had already surrendered in their hearts.

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

Abel direct quote.

The Graham family owns about 32% of the Washington Post Company.

Plus the 11% Buffett has sold to himself. That is to say, after the deal is concluded.

He will hold more than 43% of the shares of the Washington Post Company and become the absolute majority shareholder.

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

The "Washington Post", a newspaper ranked among the top 6 in the United States, ranked first in political aspects, and has become close to the official media of the United States, will be owned by Smith.

This can greatly promote the influence of Smith Media and the influence of Abel on the American political scene.

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

"I want to exchange these shares for equal amounts into 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 worth.

With such a large amount of cash at his disposal, Don Graham could become one of Wall Street's most popular guests.

But these are all imaginary. Things like cash only have value when they are liquid.

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

Or maybe it just goes away as the bank goes bankrupt.

Now Don Graham wants to exchange the money for shares of Smith Media, which can be said to be very hot in the investment market.

Or even the more popular Smith Financial Group stock. This is the real means of preserving value.

Don Graham's timing was good. And because of Buffett, the Washington Post Company is indeed worth so much money now.

Abel had no intention of refusing his request.

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

As for Smith Financial Group's stocks, Abel didn't even bother to mention them.

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

If only money could buy it. The chiefs and local tycoons in West Asia are even willing to pay several times the price.

Ever since Buffett joined. Originally Smith Capital, now shares 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, Morgan and Rockefeller who can help Smith, there is no way to get the shares of this Texas conglomerate's financial core.

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

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

Fortunately, this channel is already out of reach.

Tang just wanted to try it.

It doesn’t matter if you can’t get the best you can get.

Now you can get shares of Smith Media.

This is already a good choice for Graham, who is on the decline.

"No problem." Don Graham said simply, "But it needs to be calculated by my lawyer, actuary, and accountant."

"OK." Abel said simply.

Smith Media, which is about to go public, can be said to be in great need of the support of the Washington Post.

News spread that the acquisition of the Washington Post was successful. At least it can increase the valuation of Smith Media's listing by more than 10%.

At this time, 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 long in the Post Company building.

After leaving the building, Buffett suggested that Abel go to the nearest McDonald's for a "drink."

"Go to McDonald's for a drink? What? Coca-Cola? I don't like carbonated drinks."

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

"Alright alright."

Abel compromised.

Soon, the nearest McDonald's near the Post Building was cleared and a temporary closure sign was put up.

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

Soon after, the PC Bureau in Washington, which was closest to the McDonald's, also "coincidentally" dispatched several police cars and a large number of police officers to start patrolling and stopping nearby.

The world is so unfair.

The top boss of the empire is so arrogant just to eat McDonald's.

Unlike ordinary Americans, when eating McDonald's, they sometimes have to worry about stray bullets.

Therefore, many people say that the wealthy class and civilians 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.

Under such circumstances, how could the elites of the empire understand the demands of the civilian class of the empire?

This is the downfall of empires.

It's already noon.

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

"At your age, you still have this appetite. This is really good."

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

Buffett took a big bite of the hamburger and spread it slightly apart.

"Look, a hamburger is made up of buns, lettuce and beef or chicken. Each of these important components separately is what the newspapers say is healthy food. So why do they combine to become unhealthy junk food?"

Abel knew that Buffett was making excuses.

Meat, bread and lettuce are indeed relatively healthy foods.

When they are made into hamburgers, a lot of mayonnaise, salad dressing, even corn syrup and sugar-added ketchup that Americans like are added to them.

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 perspective, it can also be said that the United States is a country fertilized by corn syrup.

The food industry in this country has abused corn syrup to an insane degree.

This situation will occur only because the big agricultural capitalists and candy capitalists need to create demand for their corn and syrup.

For this reason, they have successfully turned Americans into the most obese group in the world.

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

Not to mention that Americans’ obesity standards are exaggerated. Their overweight is already considered severe obesity in many other parts of the world.

After finishing most of the hamburger, he looked at Abel who was indifferent to the food in front of him.

Buffett: "Why don't you eat?"

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

"Warren, you asked me to come here. You really just want to buy me a drink or a meal at McDonald's, right?"

"Forehead……"

"Okay," Buffett said.

"I want to know, I heard that you had a fight with John Chris Morgan? Is that true? The DC area has been very tense these past two days. A large number of PCs and National Guard troops have been called in. The situation depends on the situation. Something’s not quite right.”

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

Regarding the large-scale mobilization of PCs and National Guards in Washington, this is also the cooperation and agreement between Abel and Morgan.

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

Not to mention someone as well-informed as Buffett.

Whether it's stock trading or taking sides, the old man is a true insider.

My dad was a member of Congress back then. When he took the 10-year-old to Wall Street, he was personally received by the president of Goldman Sachs.

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

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

This kind of power, coupled with Buffett's current position in the American financial community.

Even if he did not participate in the meetings of the Federal Advisory Committee, the old man could still receive a lot of inside information that the empire's top officials could not receive.

Morgan and Smith's "fight" wasn't even inside information, because both parties were deliberately spreading it.

Not to mention Buffett, ordinary American wealthy families can know this kind of thing through their connections.

The inside information Buffett received was 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, and that's not the case at all."

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

Buffett looked at him without giving in.

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

Buffett smiled directly and looked very relaxed.

"Hahaha - of course I understand. Of course I understand. That's great."

Abel also smiled.

He knew these people were unreliable.

So does Buffett.