Scaffidi: Are newspapers set to go extinct? Warren Buffett thinks so

Watch Warren Buffett's take below.

One of America's richest men, someone who has invested in newspapers, says that the newspaper industry is essentially on pace to go extinct.

“No one except the Wall Street Journal, The New York Times and now probably the Washington Post has come up with a digital product that really in any significant way will replace the revenue that is being lost as print newspapers lose both circulation and advertising,” said Warrenn Buffett at Berkshire Hathaway's yearly meeting. He says the issue is greater for American society at large.

"The significance to the society I think actually is enormous.”

What is Steve Scaffidi's take on this? He'll tell you at 11:35 a.m. Click here to listen live to WTMJ.

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