Hollywood Dumps Newspaper Advertising

Nikki Finke:

Then there are the declining circulations. “You’d think it would get cheaper because it doesn’t reach as many people as it used to.” Indeed, the Audit Bureau of Circulations keeps finding that something like half of the nation’s 38 largest papers report circulation declines. That’s why the Oracle from Omaha, Warren Buffett, has been quoted as saying recently that “the economics of newspapers in the United States are very close to certain to deteriorate over the next 10 to 20 years.” And this is coming from a self-described newspaper addict and savvy media investor.