Warren Buffett dumped 77% of Amazon to buy surging media stock

Berkshire Hathaway sharply reduced its Amazon stake—trimming more than 77% to about 2.3 million shares—while initiating a roughly $351.7 million position in The New York Times (about 5.1 million shares). The filing signals a strategic rotation away from concentrated big-tech holdings (Berkshire has also trimmed Apple and Bank of America) toward businesses with stronger current cash flow and predictable subscription revenue. Market implications: potential downward pressure on Amazon sentiment from a high-profile seller, a lift to investor interest in New York Times and similar cash-generative media, and a broader signal that Buffett is rebalancing toward value and cash-flow-focused names (also active in Chevron and Chubb).