The Editor and the Audience



A common perception in the U.S. is that all newspapers are dead or dying. Why, then, did Warren Buffett, generally recognized as one of the savviest investors on the planet, purchase 62 newspapers—dailies and weeklies—in Virginia and the rest of the South in mid-2012? The Oracle of Omaha, as Buffett is known, explained it this way:

In towns and cities where there is a strong sense of community, there is no more important institution than the local paper. The many locales served by the newspapers we are acquiring fall firmly into this mold, and we are delighted they have found ...

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