Warren Buffett's Berkshire Hathaway has announced a deal with Graham Holdings (formerly the Washington Post) to swap the vast majority of Berkshire's 28% stake in the company for a television station in Miami (WPLG), some of the Berkshire shares Graham possesses, and a few hundred million in cash.
The total deal is valued around $1.1 billion. The Washington Post sold its namesake newspaper to Amazon.com's Jeff Bezos and left a company of various other businesses behind. The Post had been a longstanding position in Buffett's portfolio as he originally took a stake in 1973.
Friday, March 14, 2014
Warren Buffett Does Asset Swap With Graham Holdings
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