Besides mowing lawns and shoveling snow, my very first job as a lad was an Omaha World-Herald newspaper route. I delivered the paper every day to about 40 customers in the south end of Council Bluffs, Iowa. That’s why the headline that Warren Buffett has purchased the OWH attracted my attention.
The price, reportedly, is $150 million plus the assumption of $50 million of debt. Two-hundred-thousand bucks for a business that Buffett once told his shareholders has a “potential for unending losses.” The biggest problems newspapers face are 24-hour cable news outlets and Internet news websites. They have drawn readers away from newspapers causing many of them to close or to operate at a deficit.
It is my hope that Buffett’s bet on the future of the newspaper is a winner. Not because he needs any more money, but because citizens in a free society need good journalism. Buffett said there are many things newspapers can do “better than any other media.” He’s right about that. Here are two things newspapers do better: reach a local audience and explain the news with context and gravity.







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