I will always be a fan of Warren Buffett and his buy-and-hold style of investing in quality companies. Through his 60-year run as CEO of Berkshire Hathaway, Buffett led the conglomerate to incredible growth, with a compounded annual return of 19.9% that nearly doubled the performance of the S&P 500. I'm glad that Buffett's legacy is continuing under the new leadership of his trusted lieutenant, Greg Abel, who took the reins this year when Buffett stepped down from the CEO's chair at age 95. What an incre ...

German publisher Axel Springer struck a deal to buy Britain’s Daily Telegraph newspaper for around $770 million https://t.co/pR4vRQSan1 ...

Core Insights - Berkshire Hathaway's portfolio management reflects a shift in strategy under new CEO Abel, with a notable reduction in Apple holdings while maintaining a significant stake valued at $61.96 billion, despite underperformance compared to the S&P 500 [2][3] - The recent acquisition of a $351.7 million stake in The New York Times suggests a strategic interest in media with pricing power and brand trust, indicating a potential change in investment philosophy within the company [2][3] Group 1 - Berkshire Hathaway trimmed its Apple stake by 4.3%, yet it remains a dominant holding worth $61.96 billion, highlighting a strategy of "Trimming at scale" [2] - The New York Times stake is positioned at $351.7 million, ranking 29 out of 41 holdings, indicating a shift towards media investments that offer subscription-based revenue and brand trust [2][3] - The investment decisions are increasingly attributed to Abel, as the firm allows investment managers to operate independently, reflecting a generational transition in investment strategy [3] Group 2 - The portfolio has seen new additions like Amazon and Chubb, which were acquired without Buffett's direct involvement, showcasing the autonomy of investment managers within Berkshire [4] - The quarterly filings reveal past trades, emphasizing a consistent pattern where investment decisions are made without public announcements regarding who made the choices [4]

Core Insights - Warren Buffett's final quarter as CEO of Berkshire Hathaway saw significant net selling activity, with a notable $352 million purchase of The New York Times Co. [2][12] Selling Activity - Berkshire Hathaway was a net seller of stocks for 13 consecutive quarters leading up to Buffett's retirement, with significant reductions in stakes in Amazon, Apple, and Bank of America [4] - The reduction in Amazon shares was by 77%, while Apple and Bank of America stakes were cut by 75% and 50%, respectively [4][9] Valuation Considerations - The selling activity appears to be driven by valuation concerns, as the current market valuations of Apple and Bank of America have significantly increased since Buffett's initial investments [5][9] - Apple shares now have a trailing P/E ratio of 33, compared to the low-to-mid teens when initially purchased [8] - Bank of America shares are now valued at a 37% premium to book value, contrasting with a 62% discount at the time of Berkshire's investment [9] New Investment - The standout purchase in Buffett's final quarter was 5,065,744 shares of The New York Times Co., valued at approximately $352 million [12] - The New York Times has seen growth in digital subscriptions, reaching 12.78 million, and has strong pricing power and double-digit growth in digital advertising [15] - Despite the positive outlook, the valuation of The New York Times stock is considered aggressive, with a forward P/E of 24 [16]

2025年是视觉江苏网成立十周年，广大特约摄影（摄像）师积极深入基层一线，聚焦时代主题，用镜头 定格奋进足迹、留存温暖瞬间。全年累计拍摄上传新闻图片53670组、446290幅，视频7700条，视觉江 苏网在库图片总量突破478万幅，进一步巩固了其作为省内规模最大、内容最丰富、更新最及时的权威 视觉产品数据库的地位。 （来源：新华日报） 本报讯 （侍珏） 用镜头看见最美江苏，新华日报社·视觉江苏网2025年度"十佳摄影（摄像）师"日前揭 晓，20位优秀新闻摄影（摄像）人分别入选"年度十佳"和"年度十佳"提名。 为鼓励优秀新闻摄影（摄像）精品生产，深化采编团队与摄影（摄像）师队伍的联动协作，高质量推进 江苏图片库建设，新华日报社·视觉江苏网特举办2025年度十佳摄影（摄像）师评选活动。评选结合摄 影（摄像）师获奖记录、稿件数量质量、全媒体触达等多种因素，最终确定许丛军等10位摄影（摄像） 师为"年度十佳"，杨素平等10位摄影（摄像）师获"年度十佳"提名。在新的一年里，视觉江苏网还将持 续推进改版升级、强化内容生产、增强用户黏性，指导广大摄影（摄像）师创作生产更多新闻影像精 品，为推进中国式现代化江苏新实践贡献视 ...

Newspaper revenues fell 65% from 2006 to 2020.They haven't come back.Markets don't reward nostalgia. ...

THIS WEEK THE WASHINGTON THE PRESIDENT AND PO ANNOUNCED A NEW WAVE OF LAYOFFS GUTTING THE VENERABLE NEWSPAPER STAFF BY AT LEAST TO THIRD AND ELIMINATING ENTIRE SECTIONS OF ITS GLOBAL AND METRO NEWS COVERAGE. IN 2013, THE BILLIONAIRE JEFF BEZOS RESCUED THE POST WITH with his $250 million purchase at a time when it was shedding readers, losing millions of dollars and struggling to adapt to the digital age. In his first town hall meeting with the Post staff, Bezos announced, quote, a new golden era for The Was ...

The Washington Post announced a round of sweeping layoffs this morning, impacting about 30% of its workforce. That includes more than 300 journalists. The large-scale cuts effectively shutter its sports unit, its book department.And it also plans to shrink its international and metro coverage as well as podcast operations. ...

Core Insights - Old Dominion University celebrated its 143rd Commencement Exercises, with nearly 1,600 students graduating in two ceremonies [1] - The ceremonies recognized graduates from various colleges and schools, including the Batten College of Engineering and Technology, Darden College of Education, and the Joint School of Public Health [2][3] Group 1: Commencement Details - The first ceremony at 9 a.m. included graduates from multiple disciplines such as engineering, arts, sciences, cybersecurity, data science, and supply chain management [2] - The second ceremony at 12:30 p.m. honored graduates from education, health sciences, nursing, business, and public health [3] - Historic milestones were achieved with the first degrees conferred by the Joint School of Public Health and the School of Supply Chain, Logistics and Maritime Operations [4] Group 2: Keynote Address Highlights - R. Bruce Bradley delivered the keynote address, emphasizing the pride in the graduates and the university's recent achievements, including its Carnegie R1 designation and the integration of Eastern Virginia Medical School [5][7] - Bradley received the Old Dominion University Presidential Medallion for Public Service, recognizing his significant contributions to the university and the community [6] Group 3: Leadership and Values - Bradley discussed essential traits for graduates, including ethical behavior, achieving results, and developing people, urging them to seek employers with strong ethical values [9][10][11] - He encouraged graduates to be known for their ability to get things done and to treat others with respect in their future leadership roles [10][11] Group 4: University Overview - Old Dominion University is a leading public doctoral research institution in Virginia, with over 24,000 students and a significant economic impact of $3.8 billion annually [13] - The university is recognized for its academic excellence and has partnered with Google to launch an AI incubator for higher education, showcasing its commitment to digital innovation [13]

文 | 王可（新京报传媒研究院） 纸媒停刊在近年来已不少见，读者对此难免会有疑问：报纸停刊了，报社就没了吗？ 一个以纸为绝对中心的媒体时代之后，放下纸笔，报社何以为生？ 02 报社还在，新闻还在 01 又有报纸停刊？ 临近年底，读者间相传《燕赵农村报》、《中国集邮报》明年将停刊，虽然官方尚未发布公告，但是已 引发业内关注，且持续在自媒体、读者群内发酵。 此外，湖南日报报业集团此前曾公布系统性变革方案，宣布2029年前关停《三湘都市报》《大众卫生 报》《湖南法治报》纸质版。 报纸停刊呈现出这样几个特征： 首先，报刊的发行与印刷成本高昂，而数字媒体对读者时间和广告预算的双重分流已成定局，经营压力 成为选择停刊的核心驱动。 其次，停刊决策往往被纳入 "主流媒体系统性变革"框架之中，停刊不再被简单视为经营失败，而成为 战略转型的必要步骤。例如，上海报业集团在启动变革时，明确"关停5个客户端，转变2份报刊出版方 式"，将报纸的"停"与新平台的"建"同步规划。 再者，市场需求的变化是根本原因。这一点在图书馆的采购决策上体现得尤为直观。广东外语外贸大 学、南开大学等高校图书馆在拟定2026年报刊目录时，普遍将"使用绩效低" ...