Warren Buffett is on some kind of spending spree: bidding for a mortgage company, buying into the slumping private jet market and snapping up another newspaper.
Why is Buffett so bullish on the newspaper industry? Only time will tell. Of course, as media analyst Ken Doctor points out, Buffett is an opportunistic investor: “See a business, or industry deep in the doldrums, and think you can leverage money out of a deal, one way or the other, and you’ve got an opportunity.”
Here’s hoping Buffett and his advisers introduce and embrace strategies that help pave the way toward a brighter media industry future.