How Berkshire’s New York Times Bet Looks Today

Summary

At the end of 2025, Berkshire Hathaway NYSE: BRK.B, formerly headed by the legendary Warren Buffett, made an interesting portfolio move. The company’s 13F filing revealed that it entered a new stock during the quarter, placing a $352 million bet. That stock was The New York Times NYSE: NYT, a name many likely did not expect. Given that one of the world’s most renowned investment funds has taken a stake in the firm, The New York Times is a stock worth examining. Overall, NYT has a lot going for it today, but it also has notable risks worth considering.Get New York Times alerts:Sign Up Understanding The New York Times’ Digital TransformationThe New York Times' business needs little introduction; it is one of the longest-standing and most universally known news organizations in the world. However, it is worth understanding how the company has shifted its business in the recent past. New York Times TodayNYTNew York Times$76.96 -1.02 (-1.31%) As of 05/13/2026 03:59 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$51.03▼$87.10Dividend Yield1.20%P/E Ratio33.03Price Target$80.78 It is no secret that the traditional print newspaper industry is in structural decline. Notably, from 2021 to 2025, NYT’s print subscribers fell from 795,000 to 570,000. However, the company has been fairly successful in transitioning away from print and toward digital over the past several years. While print subscribers dropped 28% from 2021 to 2025, digital-only subscribers increased by 80% from 6.783 million to 12.21 million. Today, digital channels are the dominant force behind NYT’s revenue. Digital subscriptions and digital advertising made up approximately two-thirds of the company’s total revenue over the last 12 months (LTM). Revenue from these streams was approximately $1.92 billion, compared to total revenue near $2.9 billion. While declining, print still represents a significant source of sales. LTM print subscription and print advertising revenu...