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.
Warren Buffett Adds To Viacom Stake
What's Hot on Deadline
Black Friday Box Office Explodes: Top 20 Pics +112% Over Thanksgiving; Katniss Eyes $74.4M 5-Day - Saturday AM Update
'Gods Of Egypt': 'Selma' Director Ava DuVernay Responds To Alex Proyas & Lionsgate Apology For Lack Of Diversity - Update
Universal Lands Hot Novel 'The Girl Before'; Ron Howard To Direct, Brian Grazer & Michael De Luca To Produce