Buffet Still Bullish on Newspapers

http://mediadecoder.blogs.nytimes.com/2012/11/27/buffett-says-he-remains-bullish-on-newspapers-despite-closing-one/

Warren E. Buffett isn't letting one troubled newspaper color his view of buying what many media experts consider the dinosaurs of the news business. Mr. Buffett said he still planned to buy newspapers, even though he recently announced that he would be shutting down one that he recently bought by the end of the year.
Mr. Buffett went on a newspaper spending spree this year by buying more than 60 newspapers from Media General and a small stake in the newspaper company Lee Enterprises, a chain of mostly small dailies based in Iowa. At the time, he stressed that he had great confidence that newspapers would continue to be solid investments for decades to come.