Warren Buffett takes stake in The New York Times

Berkshire Hathaway has built a stake in The New York Times Company, marking a notable return to the media industry. According to regulatory filings, the conglomerate acquired approximately 5 million shares valued at around $350 million.

The move is striking because Warren Buffett had long expressed skepticism about the newspaper sector and sold Berkshire’s regional newspaper portfolio in 2020. The new investment suggests a more selective approach, focusing on media companies with strong digital business models and stable subscription revenues.

The New York Times has transformed itself from a traditional print publisher into a digital platform company. Subscription income from online products — including news, games and other content services — has become the primary growth driver, strengthening both revenue stability and investor appeal.

The purchase came during the final phase of Buffett’s tenure as CEO of Berkshire Hathaway and is widely interpreted as a symbolic investment. Buffett’s connection to the newspaper industry dates back to his youth as a paperboy, and he has repeatedly emphasized the civic and economic importance of journalism.

It remains unclear whether the decision was made directly by Buffett or by one of Berkshire’s portfolio managers. Greg Abel now leads the company as CEO, while Buffett continues to serve as chairman.

For the media industry, the investment could carry broader significance. Capital from one of the world’s most successful investors signals renewed confidence in sustainable digital news models, despite ongoing challenges facing traditional media companies.

SK