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Buffett: I Wouldn't Buy Newspapers 'At Any Price'

market sniper I get your point but not being in the airline business is a bad thing ? Perhaps they understood it all too well. I suspect Thompson Reuters understands better than most what business they are in which is information and news distribution Thompson sold almost all of their papers almost a decade ago and have stayed ahead of the curve.


On May 04 12:47 AM Market Sniper wrote:

> Newspapers now have the same problem that the railroads did. They
> do not know what business they are really in. Newspapers are not
> in the newspaper business, they are in the information business.
> Railroads thought they were in the railroad business. They weren't,
> they were in the transportation business. Because they did not really
> know what business they were really in, you never heard of Union
> Pacific Airlines, did you?

Buffett: I Wouldn't Buy Newspapers 'At Any Price'

Most if not all large city dailes will stop publishing within a decade, The demise of the large national publishers will take a little longer, web based versions will try to replace them however the barriers to entry are almost non-existant henceforth the economic returns will be extremely low. Journalists are losing their jobs and turning to blogging as a means of making a living one of the consequences of this however is the interenet has turned into the National Enquirer . The truth can still be found however one has to wade through an ever increasing pile of B.S. to discover it. This website is an excellent example of what the future of electronic news and opinion holds some of it excellent but unfortunately most of it not so much.