Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.
Warren Buffett's Berkshire Hathaway continued to increase its stake in SiriusXM , now owning 32% of the New York-based satellite radio company.
Berkshire hiked its bet after billionaire John Malone's Liberty Media completed its deal in early September to combine its tracking stocks with the rest of the audio entertainment company.
Buffett's firm first bought Liberty Media's trackers in 2016 and started piling into SiriusXM's tracking stocks in the beginning of 2024 after the deal announcement in a likely merger arbitrage play.
Meanwhile, the Liberty transaction, which reduced share count by 12%, could cause the company to pause stock buybacks until 2027, which will likely weigh on shares, the analyst said.
Persons:
Warren Buffett, Warren Buffett's Berkshire Hathaway, John Malone's, Ted Weschler, Todd Combs, Sebastiano Petti
Organizations:
Berkshire Hathaway, Securities and Exchange Commission, Berkshire, John Malone's Liberty Media, Atlanta Braves, Liberty, JPMorgan
Locations:
Omaha , Nebraska, SiriusXM, York, The Omaha , Nebraska