Buffett gets TV station as he trims Graham stake

Berkshire Hathaway (BRK.A, BRK.B) and Graham Holdings (GHC) reach agreement in principle for Berkshire to acquire a subsidiary of Graham which includes a Miami TV station, a number of Berkshire shares, and cash in exchange for about 1.6M shares of Graham Class B stock currently owned by Berkshire.

The deal sounds like it's the result of a phone call between Buffett and Donald Graham, with the final numbers still to be worked out and nothing yet on paper.

"I am sure this is a mutually beneficial transaction for both companies,” says Buffett. “While this transaction will greatly reduce our position in Graham Holdings, our admiration for the company and its management is undiminished.”

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Comments (5)
  • Andrew Noland
    , contributor
    Comments (131) | Send Message
    You should clarify that the Berkshire shares are currently held by Graham and being transferred back to Berkshire.
    12 Mar 2014, 11:15 AM Reply Like
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
    would be nice to know which station
    12 Mar 2014, 11:18 AM Reply Like
  • jordanx2000
    , contributor
    Comments (2) | Send Message
    The station is WPLG
    12 Mar 2014, 12:15 PM Reply Like
  • psychological-dividends
    , contributor
    Comments (820) | Send Message
    It's interesting, I have been reading a lot about Super PAC money funneling into local tv stations, particularly in battleground states. This has enabled these stations to gouge the superpacs and attain huge advertising dollars.
    12 Mar 2014, 01:05 PM Reply Like
  • c5966
    , contributor
    Comments (127) | Send Message
    This is all much ado about nothing.
    12 Mar 2014, 03:12 PM Reply Like
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