As newspaper circulation figures recently experienced a 2% drop -- and should go down from here -- it doesn't make any sense why anyone wants to own newspapers right now, Jim Cramer said on his
"RealMoney" radio show Tuesday.
When Cramer said he started
, he did so because he had always wanted to own a newspaper.
"But I was not going to brave print and distribution costs that made owning a paper way too expensive," he said, which is why he started the online paper.
People should not buy the
Los Angeles Times
, Cramer emphasized. "The apparatus for a paper could kill even the richest people."
"Young people don't care about papers," he continued. "They would rather have a paper on the Web."
"Stay away" from newspapers, Cramer warned, "and don't contemplate buying them."
For market players who have a long term view and possess the patience to see a stock grow for four or five years, Cramer advised buying the
"There is a very important change going on here, the changeover to a hybrid system," he said.
The changeover has been going on for a few months and is now going into "high gear," Cramer said. Now that the market is getting better, people should consider NYSE as a play, he said.
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