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Thread: Buffalo News sale rides industry wave of consolidation

  1. #1
    Tony Fracasso - Admin
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    Buffalo News sale rides industry wave of consolidation

    Buffalo News sale rides industry wave of consolidation

    The sale of The Buffalo News and other newspapers owned by Warren Buffett's BH Media Group to Lee Enterprises is the latest consolidation move in an industry that is grappling with steep declines in advertising.

    With competition from online news sources rising, newspapers especially regional and local papers have been struggling with the shift in advertising to digital sites, which now accounts for nearly half of all U.S. advertising revenue, according to eMarketer. Half of that digital ad revenue goes to just two companies: Google and Facebook.

    "It fits in with several trends in the industry," said Rick Edmonds, media business analyst at the Poynter Institute.
    https://buffalonews.com/2020/01/29/b...consolidation/

  2. #2
    Tony Fracasso - Admin
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    The Buffalo News is being sold to Lee Enterprises

    The Buffalo News, after 42 years as part of Warren Buffett's Berkshire Hathaway, is being sold to Lee Enterprises, an Iowa-based chain that owns 50 newspapers, mainly in the Midwest.

    With the $140 million deal, announced Wednesday morning, Lee will become only the third owner in the 140-year history of The News.

    Analysts said they were not surprised by the deal. Lee has managed all of the 30 newspapers owned by Berkshire, except for The Buffalo News, since the summer of 2018.
    https://buffalonews.com/2020/01/29/b...e-enterprises/

  3. #3
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by WNYresident View Post
    The Buffalo News is being sold to Lee Enterprises
    Could be wrong but it looks like BN would be the largest paper in the group. St. Louis Post-Dispatch would be 2nd.

    They are gonna slice up whatever is left at the paper like a turkey. Right out of the gate it looks like the bigger papers in the group are all running a similar website framework. So I'd expect the technical staff at the BN to be on their way out pretty quick. Maybe those folks could learn how to do a paywall while on 'sabbatical'....

  4. #4
    Tony Fracasso - Admin
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    It's sad even if you don't like that they are left leaning as a paper goes.

    The Buffalo news is part of Buffalo's history as a news paper goes.

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    It’s an outhouse. I hope they turn it into one of those weekly advertising sheets for people selling old cribs and tires.

  6. #6
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    Good riddance. A dinosaur in the age of mammals.

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