Newspapers wouldn't have existed

Washington Post's largest shareholder who goes by the name of Warren E Buffett writes a pessamistic outlook to shareholders about the future of newsprint.

He claims that the newspaper would not have existed if cable and satellite broadcasting as well as the Internet had come along before the invenion of the printed word.

The Washington post has seen declines in its print revenue of 4% since last year and Buffett goes onto say:

the economic potential of a newspaper Internet site -- given the many alternative sources of information and entertainment that are free and only a click away -- is at best a small fraction of that existing in the past for a print newspaper facing no competition."