Warren Buffett Keeps Buying Newspapers, for Some Reason

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Photo: Mario Tama/2011 Getty Images

The old white man fascination with ink on paper persists as Warren Buffett's Berkshire Hathaway announces its plan to acquire 63 newspapers from Media General for $142 million. The paper boy-cum-billionaire also purchased an Omaha-based newspaper chain last year, despite telling investors in 2009 that the business was a "terrible" one with "the possibility of unending losses" and "[nothing] on the horizon that causes that erosion to end." Oh well, who cares! Nostalgia: priceless.