Jeff Bezos, John Henry, Warren Buffett, they are good businessmen. If they are such bad deals, why do good businessmen want them so badly?
Warren Buffett loves newspapers. He’s not looking to change the newspaper business, ditto for John henry. But Jeff Bezos wants to experiment. He wants to shift this medium and help it into the new age.
Warren Buffett’s explains his rationale for this strategy of a hyper-local approach this way:
Newspapers continue to reign supreme in the delivery of local news. If you want to know what’s going on in your town – whether the news is about the mayor or taxes or high school football – there is no substitute for a local newspaper that is doing its job. A reader’s eyes may glaze over after they take in a couple of paragraphs about Canadian tariffs or political developments in Pakistan; a story about the reader himself or his neighbors will be read to the end. Wherever there is a pervasive sense of community, a paper that serves the special informational needs of that community will remain indispensable to a significant portion of its residents.
Newspapers Are Billionaires’ Latest Trophies
America’s Newspapers Are Getting Bought Up by Billionaires
Before Bezos: The Billionaires Who Own America’s Newspapers
http://www.businessinsider.com/warren-buffett-buying-newspapers-2013-3
Can Billionaires Like Jeff Bezos and John Henry Save Newspapers?
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