Warren Buffett on newspapers [pdf]
online.wsj.com
Warren Buffett on newspapers [pdf]
1–10 of 53 posts
Re: Warren Buffett on newspapers [pdf]
#2I think in a way he's talking about newspapers getting back to their real roots as being genuine 'NEWS' papers. That's instead of the trashy gossip magazines that so many of them have turned in to.
Re: Warren Buffett on newspapers [pdf]
#3I think in a way he's talking about newspapers getting back to their real roots as being genuine 'NEWS' papers. That's instead of the trashy gossip magazines that so many of them have turned in to.
In general trashy gossip magazines sell, that is why there are so many of them. There is a feedback mechanism there perhaps...
But that is in general. It seems Buffet here is a focusing on specific areas with a population that will be very likely to be interested in a local newspaper. Small, well established towns, with a strong sense of community.
The problem is see with that is that local communities that used to be established and strong can be destroyed pretty quickly according to how the local employment landscape changes (say a GM plant closes).
Re: Warren Buffett on newspapers [pdf]
#4Interesting strategy. Focus on the only advantage local papers have -- the deep local connection -- and build the strategy around that. Might be a leaner newspaper with a smaller readership... but that will happen anyways.
Coupling this 'deep local' focus with a better social media strategy could help them survive. If you become THE source for all local news + provide an easy way for things to be shared / discussed via FB / Twitter, etc you can bring your competitive advantage to the digital realm.
Re: Warren Buffett on newspapers [pdf]
#5I think in a way he's talking about newspapers getting back to their real roots as being genuine 'NEWS' papers. That's instead of the trashy gossip magazines that so many of them have turned in to.
No, I don't think that's it. Well, ok, yes I'm sure he would agree in that papers shouldn't print trash, but I think his point was that the Omaha World-Herald should stop pretending it can cover news out of Washington without a Washington bureau. Local papers are wasting money buying wire stories on national news that is not especially valuable to its readers.
Re: Warren Buffett on newspapers [pdf]
#6The only newspapers I read anymore are local newspapers that are free to read. I still feel like online resources are a terrible way of finding out whats happening around you. I read news online, but I read about shows and events in local papers.
Re: Warren Buffett on newspapers [pdf]
#7Interesting strategy. Focus on the only advantage local papers have -- the deep local connection -- and build the strategy around that. Might be a leaner newspaper with a smaller readership... but that will happen anyways. Coupling this 'deep local' focus with a better social media strategy could help them survive. If you become THE source for all local news + provide an easy way for things to be shared / discussed v…
I think local-centric newspapers could generally gain a lot from developing a community of customers, be it via FB/Twitter or their own website.
Re: Warren Buffett on newspapers [pdf]
#8There has been a strange trajectory of print and online media. You had print businesses that dominated the news market (now suffering). Suddenly the Internet came around and people's main source of news was via the web (now booming). Large print and online establishments do not personalized and local content.
People now want quality and relevant content. Therefore local print newspapers may be a lucrative place to be. Utilise the benefits of online, with the relevant content of local. Build a community.
Buffett is a smart investor. If he sees some value in newspapers then there has to be something there.
Re: Warren Buffett on newspapers [pdf]
#9I think in a way he's talking about newspapers getting back to their real roots as being genuine 'NEWS' papers. That's instead of the trashy gossip magazines that so many of them have turned in to.
I think he feels newspapers should return to their original function of writing their own (local) news and doing their own investigations. NOT 'copy/paste' all the Reuters-news. We've got the web for that kind of news.
Re: Warren Buffett on newspapers [pdf]
#10Although he doesn't mention it here, Berkshire also owns about 18% of the Washington Post:
http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshi...
Not sure if this is related at all, but Adrian Holovaty (co-creator of Django, founder of EveryBlock) also worked at the Washington Post -- he has been a big proponent of the hyper-local strategy for Newspapers (the original reason why Django was developed).
Probably a coincidence, but maybe there's some latent hyper-local vibe in the halls of the Washington Post.