Warren Buffett Indulges Newspaper Hobby, Buys Press of Atlantic City

Warren Buffett has a thing for medium-sized regional newspapers. Last winter, he expressed interest in buying the Tribune Company’s Allentown Morning Call. While that deal didn’t go down, he has now bought another local broadsheet, The Press of Atlantic City, giving him 30 newspapers in total. As Newsworks points out, Buffett usually buys papers that are already modestly profitable and that do smart journalist things like put up metered paywalls. (Unlike you know who…) But the paper also has problems of its own, making Buffett’s BH Media a welcome savior: In April, when the paper was put up for sale, it cut 26 jobs. [Omaha World-Herald]