AND NOT TO FORGET....Warren buffet's berkshire currently holds 69 newspapers.....with over a dozen acquired in the last few years.
In warren's words.....' the economics of a typical newspaper may not be as good as they were say 2 decades back. But as far as delivery of local news is concerned( like what is happening in a particular city, what happened in a local high school match, local real estate prices etc)......newspapers still reign supreme'.
Therefore buying into newspaper companies might not be such a bad idea.....specially in India where the penetration of the internet is no where near the US.
DISC- Invested in Jagran Prakshan at Rs 134