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NEWM - Warren Buffett Thinks Newspapers Are Toast But Thinks One Is Good Enough To Be His Partner
New Media Investment Group Inc.
Buffett's Newspaper Call
The Oracle of Omaha reaffirmed his death sentence for the newspaper industry in a recent interview with Yahoo News. Warren Buffett said that after decades of being great businesses, they have gradually declined in the internet-era and that most newspapers are "toast." He predicted assured survival for just three: The New York Times, The Washington Post, and The Wall Street Journal.
“The world was changed hugely, and it did it gradually,” Buffett said in the Yahoo News interview.
This sent shares in most newspapers down over the past few days. He's likely