Warren Buffet is buying newspapers. He recently purchased 63 dailies and weeklies including Media Generals newspaper chain.
The Omaha World Herald is reporting that Berkshire Hathaway purchased the papers because Buffet believes that local journalism is important and that the papers, if run by his people, will improve their profitability.
Deal shows Buffett's faith in community newspapers - Omaha.com
And, Julie Moos writes in Poynter.org that Buffet is not done buying papers. Poynter's business analyst Rich Edmonds says the deal is attractive to Berkshire because of real estate and other hard assets.
Combined, it's a real boost for local journalism which has been in decline in the past few years.
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