Warren Buffett Dumped 77% of Amazon to Buy Surging Media Stock

Why It Matters

The move underscores Buffett’s shift toward businesses with predictable cash flow and lower operational complexity, signaling a broader re‑allocation of capital within Berkshire’s portfolio. It also highlights the growing investor confidence in subscription‑based media models as durable value plays.

Key Takeaways

• Berkshire cut Amazon stake by over 77%, holding ~2.3 million shares
• New investment in The New York Times valued at $352 million
• Times posted $551 million free cash flow and $2 billion digital revenue in 2025
• Subscription base grew to 12.8 million, adding 1.4 million digital users
• Buffett favors cash‑generating digital media over complex tech assets

Pulse Analysis

Berkshire Hathaway’s recent 13‑F filing reveals a decisive pivot in Warren Buffett’s investment philosophy. After years of championing Amazon as a high‑growth megacorp, the conglomerate sold more than three‑quarters of its stake, a move that reflects both profit‑taking after a strong rally and a reassessment of the tech giant’s risk profile. The reduction aligns with a broader pattern of trimming large, complex holdings such as Apple and Bank of America, suggesting Buffett is prioritizing simplicity, cash generation, and margin of safety over sheer market size.

The New York Times, once dismissed by Buffett as a dying print business, now commands a $351.7 million position in Berkshire’s portfolio. The newspaper’s transformation into a digital subscription powerhouse is evident in its 2025 results: over 12.8 million total subscribers, $2 billion in digital revenue, and $551 million of free cash flow. These metrics illustrate a recurring‑revenue model with pricing power, traits that align closely with Buffett’s classic value criteria. Moreover, the Times’ expanding video‑journalism unit and resilient brand position it to capture premium advertising dollars in an AI‑driven content landscape.

For the broader market, Buffett’s trade signals a validation of the subscription‑based media sector as a viable, long‑term investment class. It also reinforces the notion that even legendary investors will reallocate capital when cash‑flow dynamics shift, favoring businesses that combine strong brand equity with scalable digital platforms. As other value‑focused funds monitor this shift, we may see increased capital flows into high‑margin, subscription‑driven media assets, reshaping the competitive dynamics between traditional publishers and emerging digital content players.