Warren Buffett Bets Big on The New York Times as Digital Subscriptions Soar

The legendary investor dumped most of Berkshire's Amazon stake to open a new position in the media juggernaut.

Apr. 19, 2026 at 11:50am

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Legendary investor Warren Buffett has made a major move, selling off 77% of Berkshire Hathaway's Amazon shares and instead opening a new position in The New York Times Company. The Times has seen a surge in digital-only subscriptions, now accounting for nearly two-thirds of the company's total revenue.

Why it matters

Buffett's shift away from Amazon and into The New York Times signals his belief in the future of digital media and subscription-based business models. As traditional print media struggles, the Times has proven its ability to successfully transition to a digital-first strategy focused on growing its subscriber base.

The details

Berkshire Hathaway sold off more than 7 million Amazon shares, worth approximately $1.8 billion, and instead purchased over 5 million shares of The New York Times Company at an average price of $61.09 per share. With the Times' shares currently trading around $78, this has already proven to be a profitable investment for Buffett. The Times' digital-only subscriptions now account for 12.21 million of its 12.78 million total subscribers, and nearly half of the company's $802.3 million in quarterly revenue comes from digital-only sources.

  • In its most recent quarter, The New York Times Company reported 12.78 million total subscribers, with 12.21 million being digital-only.
  • The Times saw a net increase of 450,000 digital-only subscribers during the quarter.
  • Berkshire Hathaway sold off more than 7 million Amazon shares shortly before Buffett stepped down as Berkshire's CEO.

The players

Warren Buffett

The legendary investor and chairman of Berkshire Hathaway.

The New York Times Company

A media company that owns The New York Times newspaper and other digital properties. It has successfully transitioned to a digital-first business model focused on growing its subscriber base.

Berkshire Hathaway

The conglomerate led by Warren Buffett, which has made a major investment in The New York Times Company.

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What they’re saying

“I read and read and read. I probably read five to six hours a day. I don't read as fast now as when I was younger. But I read five daily newspapers.”

— Warren Buffett

What’s next

Investors will be closely watching to see if Buffett's bet on The New York Times' digital transformation pays off in the long run, as the company continues to grow its subscriber base and digital revenue.

The takeaway

Buffett's move away from Amazon and into The New York Times signals his belief in the future of digital media and subscription-based business models. As traditional print media struggles, the Times has proven its ability to successfully transition to a digital-first strategy focused on growing its subscriber base.