Warren Buffet: News Still Important, Papers Not So

Though Warren Buffett owns several newspapers and believes in journalism, newspapers are no longer a primary source for the public, the billionaire investor told POLITICO Editor-in-Chief John Harris in a POLITICO "Lessons from Leaders" series interview on Monday.

"Journalism is everything. Portions of journalism have declined in importance, and it'll continue to. It's too bad. Newspapers were primary 30 or 40 years ago in stock market prices or baseball scores, where you could find a house, where you could find a job — all of those areas, they're no longer primary in," Buffett said. "They're just less important to people than they were before, but news is still important to people, and they're getting it one way or another."

Buffett owns some 70 newspapers, most of them small publications like Tulsa World and the Greensboro News & Record. The smaller papers, he told POLITICO, may last longer than larger ones because they are more important to their communities.



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