Mergers & Antitrust Law News

Munger Tells His Newspaper Company That Papers Are Finished (1)

Feb. 12, 2020, 8:18 PM

Charles Munger, who’s a newspaper company executive as well as a Berkshire Hathaway Inc. vice chairman, said U.S. newspapers have no future.

“Technological change is destroying the daily newspapers in America,” Munger, 96, said Wednesday in Los Angeles at the annual meeting of Daily Journal Corp., the publishing company where he is chairman. “The revenue goes away and the expenses remain and they’re all dying.”

Charles Munger
Photographer: Houston Cofield/Bloomberg

Berkshire, the conglomerate controlled by Warren Buffett, announced last month that it would sell off its newspaper holdings. BH Media and the Buffalo News will be acquired by Lee Enterprises Inc. in a...

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