Warren Buffett, the billionaire investor who’s been scooping up newspapers for his Berkshire Hathaway Inc. (BRK/A), is looking to an Arkansas publisher as a model for success in the digital age.

“The main exemplar for local newspapers is the Arkansas Democrat-Gazette, published by Walter Hussman Jr.,” Buffett wrote in an annual letter to Berkshire shareholders released yesterday. “Over the past decade his paper has retained its circulation far better than any other large paper in the country.”

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