Business News

Transcript

RENEE MONTAGNE, HOST:

NPR business news starts with a venerable newspaper's cutback.

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MONTAGNE: Starting next fall, the New Orleans Times-Picayune will publish only three print issues a week. The 175-year-old paper is the biggest metropolitan newspaper in the country to stop daily circulation. The Times-Picayune's owners cited declining advertising revenues and the need to shift its focus online.

This announcement comes amid some good news for newspapers. Billionaire Warren Buffett announced last week he's buying 63 newspapers from Media General. And this week, he indicated he's not done. In a memo to publishers, Buffett said his company, Berkshire Hathaway, would seek to buy more small to midsize newspapers. Buffet says he believes newspapers can thrive if they stop giving away their content for free. Transcript provided by NPR, Copyright National Public Radio.