Warren Buffett says newspapers need to stop giving away their product for free online, but they will have a decent future if they continue delivering information that can't be found elsewhere.
Buffett talked about the news business on CNBC Monday because his Berkshire Hathaway owns two newspapers and has a sizeable investment in the Washington Post Co.
Buffett says newspapers face challenges because of competition from Internet news sources and the rising cost of newsprint. He says newspapers need to make sure they remain the primary source of information about subjects readers are interested in.
He was being interviewed in front of the Omaha World-Herald's printing presses. Buffett's Berkshire bought the World-Herald late last year.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
In Other News: List of "Useless Government Spending" Strangely Doesn't Include Biden's Salary | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 22nd, 2014 | John Ransom
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus