Berkshire Hathaway Rotates Out of Amazon to Establish Major Stake in New York Times

Berkshire Hathaway has executed a major portfolio shift, divesting the majority of its Amazon.com Inc. holdings to establish a new position in The New York Times Company. The move comes during Warren Buffett's final quarter as CEO, signaling a strategic pivot away from high-growth e-commerce toward a digital media model characterized by strong recurring revenue. According to recent 13-F filings, Berkshire unloaded more than 7 million shares of Amazon, totaling approximately $1.8 billion. Simultaneously, the conglomerate acquired over 5 million shares of The New York Times Company at an average cost of $61.09 per share. With the stock currently trading near $78, the position has already generated significant unrealized gains. The investment highlights the successful digital transformation of the news giant. The New York Times reported 12.78 million total subscribers, with 12.21 million being digital-only. This shift is reflected in the company's financials, where digital-only subscriptions now account for 47.5% of the $802.3 million in quarterly revenue. Further supporting the thesis is the growth in digital advertising, which rose 24.9% year-over-year to $147.2 million. By rotating capital from a tech behemoth into a digital media leader, Buffett appears to be betting on the stability and growth of high-value digital subscriptions.