Warren Buffett’s Berkshire Backs new york times With $350 Million Stake in Final Quarter as CEO
OMAHA, Neb. — In a move that surprised many investors, Berkshire Hathaway disclosed a roughly $350 million stake in a major national newspaper in its quarterly filing on Tuesday (ET). The purchase came as the company boosted energy holdings and continued to trim bank and tech positions in the firm’s final reporting period with Warren Buffett listed as chief executive.
A striking return to news
Six years after a large-scale exit from local newspapers, Berkshire’s new stake signals a renewed, selective interest in news properties that have pivoted to digital-first models. The investment was disclosed in the quarterly Securities and Exchange Commission filing covering the fourth quarter of 2025 and was noted as part of the portfolio update filed on Tuesday (ET).
The title in question has transformed from a legacy print operation into a diversified digital business that now counts more than 12 million paying digital subscribers and a suite of consumer-facing products that extend beyond traditional journalism. The move stands in contrast to the 2020 decision to divest dozens of community papers amid concerns about long-term viability for smaller outlets. For investors watching the transition from print to subscription-driven digital models, the new position is a notable endorsement of that strategy.
Bets on energy, cuts in banks and tech
The quarterly filing also shows an increase of roughly 8 million shares in a major integrated oil company, lifting Berkshire’s stake above 130 million shares. The timing proved advantageous: the energy sector rallied after renewed attention on Venezuelan production and related geopolitical developments. The firm has maintained a multi-year exposure to oil names and appears to have doubled down during the period.
At the same time, the filing documents continued sell-offs in large bank and technology holdings. Roughly 50 million shares of certain bank positions were trimmed during the quarter, and sales of a leading technology stock continued, aligning with the broader rebalancing that accelerated late in the year. The portfolio moves were disclosed as part of the standard quarterly inventory; the filings do not make clear which individual investment managers within Berkshire initiated each trade.
Implications for media and markets
For the media business, a nine-figure stake from one of the world’s most watched investment firms conveys confidence in the subscription-plus-products playbook. Industry observers emphasize that national titles which have successfully monetized digital audiences, developed new revenue lines and built scalable consumer apps may warrant renewed investor interest even as many local outlets struggle.
Market reaction to the disclosure was swift: shares of the company rose in extended trading after the portfolio update became public. The combination of a high-profile financial backer and continued subscriber growth could embolden management to invest further in content, product development and targeted acquisitions.
For Berkshire, the filing represents a last quarterly snapshot with Buffett still listed as CEO after nearly six decades at the helm. The reshuffling of the portfolio — more oil, fewer big bank and tech names, and a fresh step back into a national news operation — offers a window into strategic priorities and risk appetite as leadership transitions are completed early this year.
Investors will be watching forthcoming quarterly disclosures to see whether the stake grows, whether it represents a long-term position, and how the company’s wider portfolio continues to adjust in response to shifting economic and geopolitical signals.
