Our second favorite Newspaper Wall Street Journal (NYT is our first love) is in deep waters

Those of us looking for famed investor Warren Buffett to save the Dow Jones publishing group, which includes the fine Wall Street Journal (subscription required), from Rupert Murdoch’s grubby hands must now turn our sights elsewhere.

At the annual general meeting of his company Berkshire Hathaway, Buffett made it clear that he is not buying any more newspapers.

Buffett also doesn’t blame the sales and circulation declines on the dual class shareholder structure in place at major newspapers like New York Times, Dow Jones and Washington Post but sees technological and cultural changes in play.

Buffett is a director at the Washington Post Company and Berkshire Hathaway owns Buffalo News, a regional paper in upstate New York.