Investor Warren Buffett said at a meeting of shareholders of a big American company (Berkshire Hathaway Inc.) over the weekend, according to a report on Yahoo Finance that “the future of the newspaper industry is dismal:’For most newspapers in the United States, we would not buy them at any price … They have the possibility of going to just unending losses’. As long as newspapers were essential to readers, they were essential to advertisers, he said. But news is now available in many other venues, he said. Berkshire has a substantial investment in Washington Post Co. Buffett said the company has a solid cable business, a good reason to hold on to it, but its newspaper business is in trouble”. This report can be read in full here.