Warren Buffett on newspaper industry

 One of my favorite financial guru, Warren Buffet had a number of interesting things to say at the annual Bershire hathaway shareholder's meeting today, especially on newspapers! 

 Since Buffet has long held himself out as a newspaper man, ( as a child, his first job was delivering newspaper) his  remarks come more intuitively... 

-For most newspapers in the United States, we would not buy them at any price. They have the possibility of going to just unending losses

-As long as newspapers were essential to readers, they were essential to advertiser....But news is now available in many other venues.

-Washington Post has a solid cable business, a good reason to hold on to it, but its newspaper business is in trouble. (Berkshire has a substantial investment in Washington Post Co)