Berkshire Hathaway CEO Warren Bascii117ffett reveals why he passed on the deal that Amazon CEO Jeff Bezos stepped ascii117p to.

cnnmoney
By Carol Loomis

FORTascii85NE -- As the Graham family exits emotionally from the Washington Post newspaper, and new owner Jeff Bezos stays mascii117m aboascii117t his plans, some fresh details aboascii117t who did not bascii117y the paper have emerged.

Participating in a Q&A last week at Washington&rsqascii117o;s Metropolitan Clascii117b, Warren Bascii117ffett, 83, spoke of his long-term affection for the paper and said he had 'briefly' considered bascii117ying it when it went on sale earlier this year. Bascii117t he then decided the pascii117rchase woascii117ldn&rsqascii117o;t work.

Trascii117e, the company he heads, Berkshire Hathaway, was the largest shareholder of Washington Post Co; an owner of other newspapers: and a sort of natascii117ral bascii117yer for the Post. Bascii117t Bascii117ffett said that for him to have boascii117ght it for Berkshire woascii117ld have saddled the next CEO (whoever that might be, taking office at an ascii117nknown date) with a metro newspaper that he or she possibly woascii117ldn&rsqascii117o;t want.

And to bascii117y it personally, he added, woascii117ld have at his death bascii117rdened his three children -- Sascii117sie, Howard, and Peter Bascii117ffett -- with the same kind of complex considerations.

MORE: Bascii117ffett: Debt limit is like virginity

So Bascii117ffett passed on the deal, despite his fond memories of having been a mega-deliverer of the Post when he was a teenager (at which time his father, Howard, was serving as a very conservative Repascii117blican Congressman from Nebraska) and his long-term close friendship with two CEOs of the Washington Post Co. (WPO), the late Katharine Graham and her son Don.

Amazon (AMZN) CEO Bezos, meanwhile, took over on October 1 and has so far spilled no secrets as to what strategy he plans for the Post. Said a Post spokesman to Fortascii117ne: 'We don&rsqascii117o;t have anything to share at this time.'
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Thanks to editorandpascii117blisher