Last month, in a move that surprised many of us close to journalism, Warren Buffet bought newspapers – 63 of them, in fact.
Now Buffet is not known for making high-risk or crazy investments. Quite the opposite. You know if Buffet is invested in something, you’d best get in on it, too.
So why 63 newspapers? And why weeklies and dailies whose headliner is the Richmond Times-Dispatch?
Because community papers are the most reliable segment of the business. (more…)