The end of elite liberal media empires and rise of citizen journalism

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Investment guru Warren Buffett’s outlook on newspapers is dismal

June 13, 2009 · 2 Comments

In fact, Warren Buffett has said don’t buy newspaper stock at any price. The days of the monopoly newspapers huge readership and advertising revenue are long gone.

What happened? Take a look at this modest blog’s stats: The 7-day traffic average is now passing hundreds of thousands of hits.  The majority are college graduates and in their peek buying years ages 25-55.
I predict the Boston Globe will go online with just a Friday/Sunday printed and delivered paper. 
The Boston Globe proposes to slash Guild wages by 23 percent. The talks carry on tonight and will probably end with an 18 percent cut in wages, and most and upper middle managers and no-named editors will be gone. The NY Times will handle the management. Just my prediction. 

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2 responses so far ↓

  • Mick // May 4, 2009 at 9:08 pm | Reply

    Obama White House loves <3 MSNBC. “I’ve got a thrill up my leg,” Chris Mathews. Chris was disgraced Democrat leader Tip O’Neal’s office boy when he was Speaker of the House.

    The unionized major media is in lock step with the Democrat party. Unions handed over $25 million in campaign money the past five years.

  • Buffett says “No”: Another nail in the newspaper coffin? « Ethical Martini // May 4, 2009 at 10:17 pm | Reply

    [...] but there’s a bit more. This from another American blog with the long and confusing name The end of elite liberal media empires and the rise of citizen journalism: “As long as newspapers were essential to readers, they were essential to advertisers,” he [...]

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