Xin Lang Cai Jing·2026-02-18 10:42Core Viewpoint - Berkshire Hathaway's recent $350 million investment in The New York Times marks a surprising return to the newspaper industry, despite Warren Buffett's previous predictions of its decline [1][4]. Group 1: Investment in The New York Times - Berkshire Hathaway disclosed a $350 million investment in The New York Times, which is notable as it occurs in Buffett's final quarter as CEO [1][4]. - Buffett had previously sold all newspaper assets six years ago, predicting a continued decline in the industry, but acknowledged that national brands like The New York Times could still perform well [1][4]. - The investment is seen as a strong endorsement of The New York Times' business strategy, according to Tim Franklin, a professor at Northwestern University [1][4]. Group 2: Digital Transformation of The New York Times - The New York Times has evolved from traditional print to a thriving digital business, boasting over 12 million digital subscribers and popular offerings like the game Wordle and the sports platform The Athletic [2][5]. - Franklin suggests that struggling local newspapers can learn from The New York Times by developing online games and unique local sports coverage [2][5]. Group 3: Other Investment Activities - In addition to the investment in The New York Times, Berkshire Hathaway increased its stake in Chevron by approximately 8 million shares, bringing its total holdings to over 130 million shares [2][5]. - This investment in Chevron coincided with a significant rise in the company's stock price, following Trump's commitment to revitalize Venezuela's oil industry [2][5]. - Berkshire Hathaway also reduced its holdings in Bank of America by about 50 million shares and in Apple by approximately 10 million shares, while still maintaining significant positions in both companies [3][6].