"Six years after Warren Buffett sold off all of Berkshire Hathaway's newspapers and predicted unending declines for most of the industry, Berkshire disclosed a new $350 million investment in The New York Times on Tuesday. The somewhat surprising move highlighted the quarterly update Berkshire filed with the Securities and Exchange Commission about the company's stock holdings in Buffett's last quarter as CEO."
"Franklin said the Times may have its roots in the newspaper business, but today it's a thriving digital business with popular games like Wordle, a well-known sports platform called The Athletic and more than 12 million digital subscribers. He said maybe struggling local newspapers can draw some lessons from the "digital news powerhouse" the Times has become and find ways to offer online games and showcase the local sports coverage that readers can't get elsewhere."
Berkshire Hathaway disclosed a $350 million investment in The New York Times, six years after selling its newspapers and predicting broad industry declines. The SEC filing showed the Times stake alongside increased Chevron holdings and continued sales of Bank of America and Apple shares. The New York Times now operates as a digital business with offerings like Wordle, The Athletic, and more than 12 million digital subscribers. Northwestern's Tim Franklin called the move a vote of confidence and suggested local papers can learn from the Times' digital approaches. Quarterly filings do not make clear whether Warren Buffett personally authorized the purchase.
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