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.