Warren Buffett Agrees To Take Miami’s WPLG In Return for Graham Holdings Stock

By | Wednesday March 12, 2014 @ 7:16am PDT

Warren BuffettThe terms of the deal are still squishy, but include the 1.6M Class B shares that Warren Buffett‘s Berkshire Hathaway owns in Graham Holdings — the new name for the company that owned The Washington Post before Read More »

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Tech And Media Execs Continue To Dominate Forbes’ Richest Americans List

Bill Gates‘ net worth of $72B enabled him to claim the top spot on the Forbes tally for the 20th consecutive year — followed by Berkshire Hathaway’s Warren Buffett ($58.5B), Oracle’s Larry Ellison ($41B), and then Koch Industries’ Charles and David Koch ($36B). While Buffett fattened his holdings the most over the last year, adding $12.5B, the recovery in Facebook’s stock helped to boost Mark Zuckerberg‘s net worth by $9.6B to $19B lifting him 16 spots to No. 20. Once again, the list is heavy with names from the tech world — but at least 28 media execs had a net worth of at least $1.3B, the highest amount needed to qualify for the top 400 since 2008. Bloomberg LP founder Michael Bloomberg, who also happens to be mayor of New York, had $31B, putting him in 10th place, same as last year. Cox Communications’ Anne Cox Chambers, with $13.5B, was 29th (+3 on the list), narrowly beating Rupert Murdoch and family $13.4B (at No. 30, +6). Dish Network’s Charlie Ergen follows at $12.5B (No. 32, +7). Advance Publications’ Samuel Newhouse had $8.9B (No. 46, same as last year) ahead of brother Donald’s $8.2B (No. 52, -1). There’s a tie at No. 61 with the $6.7B net worth for Cox Enterprise’s Jim Kennedy (same rank as last year) and Liberty Media’s John Malone (he’s -4 spots on the list). Other media names include: Read More »

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Warren Buffett: Too Many Facebook Investors Wanted A Quick Profit

By | Friday July 13, 2012 @ 7:55am PDT

The legendary investor says that the social media company’s IPO was either set at the wrong price, or mismanaged. It closed yesterday at $30.81, well below the $38 offering price in May. But Buffett, speaking to Bloomberg TV from the Allen & Co confab in Sun Valley, also criticizes … Read More »

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Media General Shares Soar After Warren Buffett Agrees To Buy Its Newspapers

By | Thursday May 17, 2012 @ 6:16am PDT

Media General Warren BuffettDoes Warren Buffett know something about the newspaper business that the rest of the world doesn’t? Whatever the case, Media General shares are rocketing nearly 58% in pre-market trading this morning after the legendary investor agreed to pay $142M for 63 of its daily and weekly newspapers — the whole portfolio except for the Tampa properties that include The Tampa Tribune. A unit of Buffett’s Bershire Hathaway is providing financing for Media General, which is also a major owner of television stations. The deal is a “monumental change” that will enable Media General to “focus on our broadcast television business and its future growth opportunities, including digital content and Mobile DTV,” says CEO Marshall Morton.

Related: Warren Buffett Adds To Viacom Stake Read More »

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Warren Buffett Adds To Viacom Stake

By | Tuesday May 15, 2012 @ 6:34pm PDT

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 … Read More »

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Former Disney Exec Paul Robinson To Head Andy Heyward’s A2E2 International

By | Thursday March 15, 2012 @ 5:51am PDT

Robinson will set up a new London office for the company which was formed late last year as a joint venture between Andy Heyward’s A Squared Entertainment and Tata Elxsi, the technology arm of Indian conglom the Tata group. A2E2 will be in Cannes for MipTV next month notably touting a new series of Warren Buffett’s Secret Millionaires Club in which the Oracle of Omaha teaches kids about business with guest stars like Jay-Z, Shaquille O’Neal and Serena Williams. The group’s motto is that it’s dedicated to creating “content with a purpose.” See the full release: Read More »

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