Warren Buffett Sees Most Newspapers as ‘Toast’ After Ad Decline
- ‘World has changed hugely,’ billionaire tells Yahoo Finance
- He sees a few papers surviving, such as the New York Times
This article is for subscribers only.
Warren Buffett, the man behind a print-media empire that includes the Buffalo News and Omaha World-Herald, doesn’t think most newspapers can be saved.
The decline of advertising gradually turned the newspaper industry “from monopoly to franchise to competitive,” the billionaire chief executive officer of Berkshire Hathaway Inc. said in an interview with Yahoo Finance. And now most newspapers are “toast.”