Newspaper businesses are under attack. In this context, Warren Buffett’s decision to buy Media General, which owns 63 local papers in the US, may seem odd. Does he know something that everyone else doesn’t?
In both the US and UK circulation continues to plunge while readers – and advertisers – keep moving online. Meanwhile legal judgments are making it easier to sue the press for “breaches of privacy”. No wonder embattled media mogul Rupert Murdoch thinks print papers will only survive for another twenty years. Indeed, one American study reckons that within five years there may be only four papers left in the US.
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