Prior to exiting the industry completely , Warren Buffett had long been a lover of the newspaper business. The conglomerate he runs, Berkshire Hathaway , sold its entire stake in BH Media Group in January 2020. Included in the collection of local newspapers were names such as The Buffalo News and the Richmond Times-Dispatch , among many others.
His growing pessimism was primarily the result of declining advertising revenue as more people find different ways to consume news online, making these business models outdated. However, there is one big-name news organization that is making great strides at transitioning from a print- and advertising-focused structure to one centered on digital subscriptions.
The New York Times (NYSE: NYT) is a company still early in its turnaround journey. Besides being a business that Warren Buffett would love, the stock has the makings of a potential 10-bagger. Here's why it should have the attention of other long-term investors as well.
For further details see:
A Potential 10-Bagger After Warren Buffett's Own Heart