Warren Buffett Sees a Profitable Future for Local News
Think books have a cloud of doom over them? It is a beautiful sunshine-y day compared to the forecast for newspapers. AOL’s local news experiment Patch is imploding, and newspapers are struggling badly to convert free online readers to subscribers via paywall and other means. Despite all the ugly news, there are some that see potential; in fact, Warren Buffett has announced that Berkshire Hathaway will be investing in several newspapers! From The Verge and Bloomberg: Warren Buffett, whose Berkshire Hathaway Inc. (BRK/A) struck a deal this month to acquire 63 newspapers, said he may buy more publications as the…