Tags: Warren Buffett | Newspapers | Sale

Warren Buffett: I'll Be 'Last Guy Standing' to Sell Off Newspapers

Warren Buffett: I'll Be 'Last Guy Standing' to Sell Off Newspapers
(AP)

By    |   Thursday, 26 May 2016 02:53 PM

Newspapers keep being sold off, gutted or even killed — but one well-heeled owner of 32 dailies and 47 weeklies says it's not going to happen to his publications.

Billionaire business magnate and investor Warren Buffett tells USA Today's Rem Rieder:

"It's almost unnatural how much I love newspapers … We would never sell a newspaper. I want to be the last guy standing."

Buffett's BH Media Group owns such well-established papers as his hometown Omaha World-Herald, Richmond Herald-Dispatch, the Winston-Salem Journal and the Press of Atlantic City.

As for acquiring more newspapers, Buffett said it's not out of question, but "you have to look very hard" first.

"Hope is not gone," said Buffett, who is worth $62 billion according to Forbes.

Buffett added that newspapers "missed the boat" not charging for digital content when they first set up their own websites.

Once people "expect to get something for free, it's hard to change," he told USA Today.

Industry analyst Alan Mutter told Bloomberg News that print circulation has dropped by half on average since 2005.

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Newspapers keep being sold off, gutted or even killed - but one well-heeled owner of 32 dailies and 47 weeklies says it's not going to happen to his publications.
Warren Buffett, Newspapers, Sale
176
2016-53-26
Thursday, 26 May 2016 02:53 PM
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