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Investment guru Warren Buffett predicted hard times for the newspaper industry Sunday, a day after holding his company’s annual shareholder’s meeting.
The Internet is scooping newspapers — not only on news, but in cheap accessibility, said Buffett, chairman of one of Wall Street’s top success stories, Berkshire Hathaway Inc.
The company owns The Buffalo News, a daily newspaper in Buffalo, N.Y.
While Buffett still reads newspapers, he more often finds himself turning to his computer for news these days, he said, and suspects others do, too.
Often
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