In Warren Buffett‘s final quarter as CEO of Berkshire Hathaway, the famed billionaire investor made a big, audacious bet on a legacy media business.
Berkshire on Tuesday disclosed in an SEC filing that the company had taken a substantial position in The New York Times, valued at more than $350 million. The company also sold more than 10 million shares in Apple, shedding its exposure to the tech giant.
The Times stake marks a return to media for Berkshire, which used to own a portfolio of newspapers (including Buffett’s hometown Omaha World-Herald) before selling them to Lee Enterprises in 2020. Berkshire still owns one local TV station, WPLG in Miami, which it acquired from the Graham family (of Washington Post fame) in 2014.
Berkshire, of course, previously acquired a large stake in Paramount Global, ultimately selling it in 2024 at a huge loss. “We sold it all, and we lost quite a bit of money,” Buffett said at the time.
The Times stake comes at a crossroads for Berkshire, with Buffett stepping down from the conglomerate he forged last month, handing day-to-day control to Greg Abel. While Berkshire made the investment in late 2025 when Buffett was still CEO, it is not clear whether he made the call, or whether it was a move made by Abel or another Berkshire staffer.
The Times, of course, is controlled by the Sulzberger family (just as Paramount was controlled by the Redstone family), so while Buffett’s stake is significant, it is unlikely to impact operations. Times stock rose in after-hours trading after the investment was disclosed.