Warren Buffett has weighed in on the declining newspaper industry. Here’s the scoop taken from his comments at the Berkshire Hathaway stockholder meeting which occurred this past weekend.

Buffett states that newspapers run the risk of “unending losses“. That’s a pretty powerful statement. This collapse of the American newspaper industry is an odd development. Local geo domain portals are most likely going to take news in a new direction as traditional newspapers die off. Buffett also said …

For most newspapers in the United States, we would not buy them at any price.

I am not aware of the status of newspapers in areas outside the U.S., but my suspicion is that this decline is not confined to only the USA. Probably a global occurrence tied to internet proliferation in every country.

I took my family to Wilmington last weekend and we went to several newly released movies. Ironically, both movies had prominent scenes addressing the rapid decline of hardcopy newspapers in America. Check out State of Play (Russell Crowe & Ben Affleck) and The Soloist (Jamie Foxx and Robert Downey, Jr). You’ll see what I mean. It’s obviously a hot topic in Hollywood.

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