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The New York Times Just Got Buffett’s Attention — Here’s Why!
When Warren Buffett’s Berkshire Hathaway disclosed a new 5-million-share stake in The New York Times Company, it didn’t exactly shake Wall Street. At roughly $350–$375 million, it’s tiny by Berkshire standards—especially compared with its still-massive Apple and American Express holdings. But the context matters. Berkshire was a net seller in the fourth quarter, trimming Apple, cutting Bank of America again, and slashing Amazon by nearly 80%. Against that backdrop, initiating a new position—however small—looks deliberate. The New York Times just posted 1.4 million net new digital subscribers in 2025, crossed $2 billion in digital revenue for the first time, expanded margins to 19.5%, and generated over $550 million in free cash flow. This isn’t a nostalgic newspaper trade. It’s a bet on a scaled digital subscription platform with advertising leverage and pricing power. The question isn’t whether Buffett loves newspapers.
