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.