Few smart people already do it. It’s not only Jeff B. and Warren B., these are few billionaires in Russia and Israel did the same. Following them often is s smart behavior. But not this time. Yes it like to buy football club – you get attention, it open many doors but making money? I live in Jerusalem neighborhood Pisgat Zeev and every week get 4! local free newspapers at home. They go directly to trash bin next to home, my neighbors do the same. Some inaccurate people simple throw it down on earth (ok, its organic 🙂 ) Old media luck and unlucky on the same time for one reason – their impact is not measurable otherwise owners of local Pizzeria and Gift shop would not invest on it even if one time go along homes and see what people do with these newspapers. This is still a niche of local news that mobile applications does not cover but this is just question of time. People not ready anymore to pay for news, they create, edit and share news by themselves. Just give them a good platform.