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Berkshire Hathaway invested $350M in The New York Times, reversing Buffett’s 2020 skepticism, citing its digital success.
Berkshire Hathaway, led by Warren Buffett, made a $350 million investment in The New York Times, marking a reversal of Buffett’s 2020 statement that the newspaper industry was “toast.” The move, disclosed in a regulatory filing, reflects confidence in the Times’ digital transformation, including over 12 million digital subscribers and popular offerings like Wordle.
Berkshire also increased its Chevron stake and reduced holdings in Amazon, Apple, and Bank of America.
The investment, finalized in Buffett’s final quarter as CEO, signals a strategic shift toward resilient national media brands amid broader portfolio adjustments.
Berkshire Hathaway invirtió $ 350 millones en The New York Times, revirtiendo el escepticismo de Buffett en 2020, citando su éxito digital.