Why Buffett, and Giner, buy newspaper stocks

Here is an example of Juan Giner's optimism in newspapers. He points out that billionaire investor Warren Buffett owns a newspaper in Buffalo, New York and is a key Washington Post shareholder. Now, with New York Times company shares rising by 7.5% , there is speculation that Buffett could be building a stake there too. Giner writes: "My take on that: 1. Buffett buys stocks from products that he understands; 2. He always buys low; 3. He stays with what he buys for a long time; 4. Newspaper company shares are lower and cheaper than ever; 5. Newspapers generate a lot of cash. 6. So, Buffett buys NYT stock because it is a first class brand and a great product at bargain prices." He concludes: "My advice: Do what Warren Buffett does. Buy newspaper stock. I do." (Via Innovations in Newspapers)