Could Warren Buffett Rescue the Times-Picayune?
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!
.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.