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Friday, March 9, 2007

Advertising wins!

The Oregonian: a mammoth carbon footprint
$25 billion and growing

Forbes Magazine reports that Si and Donald Newhouse - the out-of-state owners of The Oregonian - are worth $14.4 billion. Each is ranked #100 by Forbes in the new list of global billionaires. The combined fortune places them as the 35th most wealthy on the planet.

Today's Oregonian coverage of the newly-released Forbes list neglects to mention the Newhouses.

Forbes acknowledges that private wealth is undisclosed and the figures are estimates only. Si Newhouse IV, in the 2003 documentary film "Born Rich", described his family fortune: "It would be a low estimate, very low estimate for me to say $20 billion."

Experts now peg the Newhouse net worth to be at least $25 billion, which would place #8 in the world on the Forbes list, well ahead of Microsoft co-founder and Portland Trail Blazers owner Paul Allen, #19, and Nike founder Phil Knight, #69.

Last November, Forbes ranked the Newhouses' Advance Communications as the 26th largest private company in the U.S. with revenues pegged at $7.32 billion and 30,000 employees. Its chain of monopoly newspapers that includes The Oregonian - termed by Warren Buffet, #2, as "an unregulated tollbooth" - delivers profitability estimated at 30 percent/year.

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