Sunday, May 07, 2006

Warren Buffett on Media Business

"Technology has opened up a huge variety of ways to be informed faster," Buffett said. "It hasn't expanded the time you have for entertainment or for acquiring knowledge. Anytime you get more and more people competing in any given area, generally the economics deteriorate. . . "

"Generally speaking, the economics of media businesses do not have a great outlook."

Annual General Meeting May 6, 2006

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