In what may be the most brazen diversification play in media, the Washington Post this week said it’s purchasing Forney, a Texas-based company that makes burners and flame detectors for industrial furnaces.WaPo went from staunch defender of private equity underwriters to being one.
Chief Executive Officer Donald Graham said Washington Post is pursuing a “decentralized operating philosophy.”
The Post’s “ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon.”
Oddly, the purchase price was not revealed, despite both United Technologies and Washington Post being publicly traded. Neither company filed with the SEC on the agreement.
Donald Graham's media credibility was already strained by years of silence after attending annual Bilderberg Group meetings, where global plotters gain insight into where money will be made. Given Forney's combustion niche, how might that factor into our future? President Obama wants to light the African continent with private money. What else might need to be burned in the global future? Surely, PEU Graham knows the predictions.
