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Warren Buffett’s Berkshire Hathaway Acquires Small Stake in Paramount inc

Y2kTheNewOldies

Y2kTheNewOldies

www.cnbc.com

Paramount shares jump 15% after Buffett's Berkshire reveals new stake

Berkshire bought 68.9 million shares of Paramount to build a stake worth $2.6 billion as of the end of March, according to a regulatory filing released Monday.
www.cnbc.com www.cnbc.com

Thats right Buffett's investment group also have shares in Paramount inc. Previously we mentioned that Berkshire Hathaway had media investments in WPLG-TV Miami and EW Scripps at one point. Now Paramount Inc is included in Buffetts media investments.


Shares of Paramount Global jumped Tuesday after Warren Buffett’s Berkshire Hathaway revealed a new stake in the media company.

The stock rallied 15.4% Tuesday.

Berkshire bought 68.9 million shares of Paramount to build a stake worth $2.6 billion as of the end of March, according to a regulatory filing released Monday.

Paramount was Berkshire’s 18th largest holding at the end of the first quarter. The new stake adds another streaming property to Berkshire’s portfolio, whose top holding is Apple.
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Here is more on Buffett's investments at Paramount.


Warren Buffett is still betting on Paramount.

The famed investor’s company, Berkshire Hathaway, has increased its stake in Paramount Global in recent months, according to a filing Berkshire made with the Securities and Exchange Commission on Monday.

Berkshire now owns more than 91 million Class B shares in Paramount, making it the largest outside investor, holding about 15 percent of the company’s Class B stock, worth about $1.7 billion as of market close.

Paramount, of course, is controlled via its Class A shares by National Amusements, the holding company run by Shari Redstone.
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