Business of News Community Journalism

Billionaire invests in community journalism

“In towns and cities where there is a strong sense of community, there is no more important institution than the local paper.” The speaker was not a journalist – it is billionaire Warren Buffet, who just invested an additional $142 million to purchase newspapers. We are all tired of hearing that “print is dead” and that our industry is history. We all know our that newspapers have a lot to offer to the public and to our advertisers. Apparently the legendary Warren Buffet agrees with us. He just invested $142 million purchasing newspapers and has expressed an interest in buying more publications. Warren Buffet has become one of the wealthiest persons in the world by following a simple strategy—he looks for business opportunities that are undervalued because most people don’t see the potential they offer. Buffet sees the potential of print advertising. When someone tells you that print is dying, tell them they might want to talk to Warren Buffet!

By Jim Busch

Jim Busch has more than 28 years experience selling print advertising and has developed a reputation as one of the top sales trainers in the community newspaper industry. Jim is a faculty member of the Leadership Institute, the training arm of the Association of Free and Community Papers. He also writes a monthly column for the AFCP’s Free Paper INK magazine and the “Link and Learn” Column for PaperChain. In 2008 Jim founded Ideas and Eyeballs Sales Training and Consulting to provide sales training and management consulting services to publishers and industry associations.