Warren Buffett gave Viacom a modest vote of confidence, raising his total stake in the company to around 1.59 million shares, valued at $75.5 million as of March 31, when the quarter ended, according to an SEC filing. It’s not a large stake for Buffett’s Berkshire Hathaway, which also announced it currently holds 10 million shares of GM, but it could be an indication that Buffett and his team believe there is growth potential in Viacom stock, which is down 5.9% in the last year. This comes on the heels of Berkshire Hathaway making an investment late last year in Liberty Media, the first time Buffett’s company has invested in John Malone’s media empire. Berkshire Hathaway doubled that investment in the first quarter of this year. The Omaha-based company also increased its holdings in DirecTV in the first quarter.
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This article was printed from http://www.deadline.com/2012/05/warren-buffet-adds-to-viacom-stake/
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