Even Warren Buffett's Given Up on Newspapers

In an age when news can be consumed for free on the internet, Warren Buffett's investment in newspapers has always seemed somewhat anachronistic. But now it seems even the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO sees the futility of keeping this small component of his mighty conglomerate going. 

The portfolio of dozens of daily and weekly newspapers will be sold for $140 million to Lee Enterprises (NYSE: LEE), the company Berkshire hired in 2018 to manage the business. 

Image source: Getty Images.

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Source Fool.com