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Warren Buffett: Too Many Facebook Investors Wanted A Quick Profit

By DAVID LIEBERMAN, Executive Editor | Friday July 13, 2012 @ 7:55am PDTTags: Facebook, Warren Buffett

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 investors who expected Facebook shares to pop. “That’s a terrible reason to buy a stock,” he says. He’s warming up to tech stocks, but prefers businesses he knows. Years from now “more people will be drinking Coca-Cola… or chewing Wrigley Gum. I know that.”

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

By DAVID LIEBERMAN, Executive Editor | Thursday May 17, 2012 @ 6:16am PDTTags: Media General, Warren Buffett

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 THE DEADLINE TEAM | Tuesday May 15, 2012 @ 6:34pm PDTTags: Viacom, Warren Buffett

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 NANCY TARTAGLIONE, International Editor | Thursday March 15, 2012 @ 5:51am PDTTags: Andy Heyward, Warren Buffett

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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