Buffett questions New Orleans newspaper changes
Jun 1, 2012, 10:03 PM
OMAHA, Neb. (AP) – Billionaire Warren Buffett is questioning the wisdom of changes the New Orleans Times-Picayune newspaper plans to make this fall.
Last week the Times-Picayune and three major Alabama dailies owned by the Newhouse family’s Advance Publications announced plans to cut back to three printed issues a week. The newspapers will shift its focus to online news.
Buffett, whose Berkshire Hathaway just bought 63 newspapers from Media General for $142 million, says he was surprised by the New Orleans announcement.
Buffett says publishing a newspaper three days a week seems “simply unsustainable over the longer term.”
New Orleans musician Evan Christopher says Buffett’s reaction is in response to an open letter he wrote to Buffett about the changes.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)