But the minute Buffett was asked about newspapers, everyone in the place was as attentive as a doberman on high-dose Adderall. Finally, Warren Buffett takes on the world's most important topic!
Sadly, what Warren had to say wasn't particularly novel: newspapers are in big, bad trouble.
Most newspapers in the United States, we would not buy at any price. They have the possibility of unending losses. 30 years ago, they were an essential business if you wanted to learn sports scores, news, etc. They were only essential to the advertiser as long as they were essential to the reader. That's changing, it's changing every day. And I do not see anything on the horizon that's changing
Yes, folks, you've just lashed yourselves to the rail of the Titanic. But at least there's a buffet on the promenade deck.
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