Mark Twain famously quipped several variations of the remark that, “The rumors of my demise have been greatly exaggerated.” The prolific author could very well have been talking about the newspaper industry of the early 21st Century.

You don’t have to believe me. Just ask the man who has memorably been called the “Oracle of Omaha.”

Warren Buffett, the gazillionaire entrepreneur and investor who made headlines this week by offering up a $1 billion prize if someone picks a perfect March Madness basketball bracket, has become one of the biggest champions of community newspapers like those produced by Leader Publications.

Buffet has purchased more than 60 newspapers across the country in recent years, going against the common misconception that newspapers are in their death throes.

The man did not make his fortune by making ill-informed decisions or acting on half-baked beliefs. Buffett is buying newspapers for two reasons: They remain viable businesses and they are vital to the communities that they serve.

“Newspapers continue to reign supreme in the delivery of local news. If you want to know what’s going on in your town — whether the news is about the mayor or taxes or high school football — there is no substitute for a local newspaper that is doing its job,” Buffett has been widely quoted as saying.

Statistics back up this ideology, locally and nationally.

Across the country, millions of people are still reading newspapers daily. Locally, Leader Publications remains the best way to reach readers when it comes to news and advertising. More than 82 percent of households in our area — totaling just short of 40,000 — receive The Leader each and every week. That number is higher than 90 percent if you look at just our core distribution areas that include Niles, Buchanan, Dowagiac, Edwardsburg and Cassopolis. A significant number of people also receive our subscription-based newspapers that are distributed through the U.S. Postal Service.

Don’t let anyone fool you. Newspapers are not dying — although they certainly have to continue to evolve and change, as does every other industry. No one can help businesses reach potential customers in southwest Michigan and northern Indiana better than Leader Publications.

In the simplest of terms, newspapers are about information: Professionally gathering it, packaging it, communicating it. The format may change, but the mission will not.

I don’t expect everyone to take my word for it, but it is hard to discount some of the smartest people in the world.

Many people said Warren Buffett was crazy when he started buying up papers. Everyone is saying the same after he offered the billion-dollar March Madness prize. Mark Twain had his share of detractors and critics.

I’d say we can still learn a lot from both men.

 

Michael Caldwell is the publisher of Leader Publications LLC. He can be reached at (269) 687-7700 or by email at mike.caldwell@leaderpub.com.