US EditionBerkshire Hathaway invests in New York Times, trims Apple
Berkshire Hathaway acquired about 5.1 million shares in The New York Times, valuing the stake at roughly $350 million in Buffett's last CEO quarter.
- Berkshire Hathaway disclosed on Tuesday it acquired roughly 5.1 million shares of The New York Times Company, valued at about $352 million at year-end.
- Warren Buffett, former CEO of Berkshire Hathaway, stepped down at the start of this year, and Greg Abel will publish his first shareholder letter later this month.
- Berkshire pared its Apple holding to $61.96 billion, trimming it by 4.3%, offloaded 77% of its Amazon stake to $525 million, and added about 8 million shares in Chevron.
- Shares of The New York Times jumped nearly 3% in after-hours trading, with Tim Franklin calling the stake `a huge vote of confidence` in its digital strategy.
- Five years after Berkshire sold its newspapers in 2020 and Warren Buffett said the industry was `toast`, SEC filings do not reveal whether Buffett or Berkshire's investment managers placed the New York Times trades.
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71 Articles
The new arrangement was based on the transformation of the business model, with digital recipes and entertainment platforms linked to the group, and sport coverage
New York Times Hits All-Time High After Warren Buffett's Stock Buy
Warren Buffett's decision to buy New York Times Co. stock in the legendary investor's final quarter running Berkshire Hathaway Inc. is a sign of confidence - and perhaps nostalgia - from a billionaire who's had a lifelong fascination with newspaper
Warren Buffett, the most influential investor in recent decades, bid farewell to Berkshire Hathaway's leadership with a coup: he returns to the media sector with the purchase of a small share in The New York Times, an editorial company that owns the newspaper critical of Donald Trump's policies and which the U.S. president has sued for defamation and claims $15 billion.
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