Editor & Publisher, still publishing despite an announcement last week that it is folding, has unfurled an interview with tycoon Warren Buffett, who happens to own the Buffalo News.

In it, Buffett suggests it was a mistake not to have a business model when newspapers began moving content online. He doesn't offer up a remedy, but notes that something has to emerge to get greater digital revenue.

"I'm not positive what you would have done differently, but not figuring out some kind of business model was a mistake," he says.

Still, he falls short of suggesting the News will charge online. Rather, he laments that his ownership of the paper isn't rational.

It was a surprise even to employees, but Nielsen Business Media opted Thursday to close Editor & Publisher after 125 years as it sold a batch of its properties.

E & P was, as one might expect given its endurance, venerable in furnishing weekly information on the craft and its industry. It was dispassionate in its examination of print and online journalism, the business models of media, the technology involved, and the means by which it was made, underwritten and marketed.

A subscription was considered --- at least at one time --- a prerequisite for understanding the business of journalism. It used to run pages of classified job listings, and when that diminished, so seemingly did the business model that had sustained it.

It had flourished journalistically online, arriving topically in a timely way when the newsweekly was no longer as relevant. And one has to believe something will emerge to take its place; journalism is hardly disappearing and its industry is hardly small.