USA TODAY: … [Warren] Buffett wrote that he and Charlie Munger, vice chairman of Buffett’s holding company, Berkshire Hathaway, and his right-hand man, “believe that papers delivering comprehensive and reliable information to tightly bound communities and having a sensible Internet strategy will remain viable for a long time.”…
Clearly the bargain-basement price tags of newspapers in today’s market have a lot to do with his shift. After all, this is a man who loves to buy when there is blood in the streets. And despite all of the gloom and doom, many newspapers remain profitable, although far less so than in the glory days…
People are interested in local high school sports. You can’t cover all of the high school sports in Chicago or New York or Los Angeles. “But you can do that in Omaha.” If you are a local reader of The New York Times or Los Angeles Times, he says, it’s doubtful that you would know many of the people whose obituaries you encounter. “But in Grand Island, Neb., you know all of them.”… (more)
