The Oracle of Omaha acquired his hometown newspaper in January and just snapped up dozens more in a $142 million deal. This is supposed to be the fastest declining industry in America. What is Warren Buffett up to?
Here's why the deal makes a lot more sense than it appears:
A "three corner pool shot"
This week's deal makes Buffett's company, Berkshire Hathaway, the proud owner of the Richmond Times-Dispatch and 62 other daily and weekly papers in Virginia and the South.