> Warren Buffett Blog: Warren Buffett is bearish on the newspaper business model.

Thursday, May 2, 2019

Warren Buffett is bearish on the newspaper business model.

Buffett on Newspaper business (aside from the few big name publishers)

“They’re going to disappear. The things that are essentially news is what you don't know that you want to know. You know what happened in national sports the moment it happened, and you can go watch a video of it and so on. You can go to ESPN and see what's going on. You know what's happening in politics. You know what's happening in the stock market.”

“Ads are news to people”
“It was ‘survival of the fattest. Whichever paper was the fattest won, because it had the most ads in it. And ads are news to people.”

“They want to know what supermarket's having the bargain on Coke or Pepsi this weekend and so on. I mean, it upsets the people in the newsroom to talk that way, but the ads were the most important editorial content from the standpoint of the reader."

“If you were looking for a job, you had one place to basically look, and that was the classified section. If you were looking for an apartment to rent, those pages were just dozens and dozens of pages. That's disappeared.”

“The world was changed hugely, and it did it gradually. It went from monopoly to franchise to competitive to ... toast.”