Excluding Warren Buffett, there are few investment managers out there that would recommend buying a newspaper company in this day and age. [buffett] However, William Smead, Tony Scherrer and Cole Smead of Smead Capital Management are willing to take on the challenge. In particular, the three partners are betting on Gannett Co Inc, a pure-play daily community news organization, which owns USA Today and more than 90 local newspapers, mostly in small and mid-sized markets. Smead Capital Management on Gannett Co Inc William, Tony and Cole discuss why they like Gannett Co Inc in the October 30 issue of Value Investor Insight. They believe…
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