Warren Buffett Dumped 77% of Berkshire's Amazon Stake and Opened a New Position in This Digital Media Juggernaut

In his final quarter as CEO, Warren Buffett approved Berkshire Hathaway’s sale of roughly 77% of its Amazon stake — more than 7 million shares, about $1.8 billion — and used proceeds to open a new position in The New York Times Company, buying over 5 million shares at an average $61.09. NYT shares were trading around $78 at publication, implying an immediate gain. The move signals a shift in Berkshire’s institutional allocations away from a large tech holding toward a digital media business with strong subscriber-driven revenue: NYT reported 12.78 million subscribers (12.21 million digital-only), digital revenue representing 47.5% of quarterly revenue, and digital ad revenue up 24.9% year-over-year. Market impact: meaningful institutional selling pressure on AMZN from a marquee investor, coupled with a high-profile institutional buy into NYT that may support the paper’s share price and validate its digital subscription-led growth narrative.