An independent, publicly owned communications company situated in the Southeast with interests in newspapers, television stations, and interactive media.
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Consistently loses lots and lots of money. Book value excluding intangibles and goodwill is negative half a billion. They had to choose between bankruptcy and selling their newspaper division to Warren Buffett, so they sold their newspapers to Warren Buffett. Whatever's left over is probably the unprofitable crap that Buffett didn't want. It only delayed the inevitable bankruptcy by a year or two.