Magazine article Editor & Publisher

All in the Family

Magazine article Editor & Publisher

All in the Family

Article excerpt

Never let it be said that newspapering isn't a damn good business.

Forbes magazine's annual list of the 400 richest Americans is out, and newspaper proprietors are well-represented. From Warren Buffett -- America's second richest man -- on down, newspapers continue to be a source of astounding wealth.

Here's a rundown of newspaper notables on the list:

* Warren Buffett, Berkshire Hathaway, (the Buffalo News, 16% of Washington Post Co., 5% of Gannett Co.) $29 billion. Others on the list by virtue of Berkshire Hathaway -- Susan Buffett, $2.3 billion; Charles Munger, $1.2 billion; Malcolm Chase III, $910 million.

* Barbara Cox Anthony and Anne Cox Chambers, heirs to the Cox family's newspaper and television empire, $7.1 billion each.

* Rupert Murdoch, whose News Corp. owns the New York Post, $5.6 billion.

* Si and Donald Newhouse, Advance Publications (Newark, N.J., Star-Ledger), $4.5 billion each.

* Ned and Abigail Johnson, the father-daughter team that runs Fidelity Investments (parent of suburban Boston-based Community Newspaper Co.), $2.2 billion and $4.2 billion, respectively.

* Leonard Stern, Hartz Mountain honcho and alternative newspaper mogul (flagship: New York-based Village Voice), $1.7 billion. …

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