Media General

Even Warren Buffett Can't Save the Small Newspaper Business

The problem with the newspaper business is simple: A subscription price barely pays for the paper your papers are printed on, and free media are siphoning off the ad revenues newspapers rely on. Warren Buffet thought he could buck the trend, but not even the Oracle of Omaha can fight math.

Did Warren Buffett Just Save the Newspaper Industry?

Last week, Warren Buffett moved to save Media General, paying $142 million to buy 63 of its struggling newspapers. The move helps backstop the newspaper industry, giving it breathing room to figure out a way to survive in the Internet age.