NYT is on a digital hot streak
The New York Times is on a digital hot streak—adding 450,000 new online subscribers last quarter and hitting more than 12 million total.
Their revenue jumped over 10%, and profits soared to $344 million for the year.
NYT stock has shot up 57% while other media companies are laying people off.
Berkshire’s investment is basically a vote of confidence in NYT‘s digital game plan, especially as AI news content gets more common and most old-school media struggles to keep up.