Could Warren Buffett Rescue the Times-Picayune?

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As of now, it's still unlikely that this will translate into action, but Warren Buffet responded to an open letter from a New Orleans musician to say, "Naturally I've been following the Times-Pic situation with interest." With interest!

This is, of course, in the wake of dismaying news that The New Orleans Times-Picayune would be moving to a three-day a week model and laying off staff. Buffett has recently showing a penchant for eating up local newspapers like a Pac-Man eats white dots -- some immensely wise people have even called him the patron saint of newspapers -- so he seemed like a good target for musician Evan Christopher's open letter. In response, Buffett wrote:

The one thing I’m quite sure of: It would not work to start a competing paper. I have no insight as to whether the Newhouse family would sell the Times-Pic to a local group. They do not have a history of selling anything. That’s something a member of the community should explore. Let me know if you learn more.

The Newhouse family owns a bunch of local papers around the country as well as the Condé Nast publications. So, if they're listening, Buffett may be buying.

This article is from the archive of our partner The Wire.