Famed investment guru Warren Buffet, whose Berkshire Hathaway Inc. has investments in the daily press, says that most newspapers today are “toast.” The decline of advertising has transformed the newspaper industry “from monopoly to franchise to competitive,” the billionaire told Yahoo Finance, and now to "toast... The world has changed hugely.” By 2016, ad revenue for US newspapers was nearly a third of what it was just a decade before, according to the Pew Research Center. Not all papers will perish, however. The New York Times, Washington Post and Wall Street Journal will survive, he said.
Source: Yahoo Finance
Posted on: April 24, 2019