Now enter NYT and NWS. While traders can’t specifically trade the Omaha World-Herald, for example, News Corp and The New York Times will do. These two stocks are essentially two massive media conglomerates and content creators across the vast spectrum of entertainment and media outlets. “News, to put it simply, is what people don’t know that they want to know,” said Mr. Buffett in his letter. Mr. Buffett is referring to the ability to create content that gains traction in the public. This difficulty ever increasing in the click skeptical Internet generation and may be a part of his long-term bearish thesis.
It is difficult to find a pure play in the daily newspaper space like Mr. Buffett was referring to in his letter without getting parts of another business. These media giants are so diversified these days that shorting them may be a bad idea considering their big portfolios.
NYT displayed below.
