Final answer:
Warren Buffett acquired an 18% stake in The Washington Post in the 70s, a company based in Washington D.C., and this is an example of the overall trend of media consolidation.
Step-by-step explanation:
In the 1970s, Warren Buffett acquired a significant stake in a company that played a major role in the media landscape of the United States.
That company is based in the nation's capital and is known as The Washington Post. By purchasing shares, Buffett ended up owning 18% of this paramount news company.
Over the decades, media consolidation has been a growing trend, with a small number of large corporations owning the vast majority of media outlets, including newspapers, television and radio stations, and cable systems.
The consolidation of media companies has led to concerns over market competition and the diversity of viewpoints available to the public.
In the 70's, Warren Buffett acquired a significant stake in The Washington Post, which is based in our nation's capital.