Warren Buffett buys a TV station

Graham Holdings Company


Berkshire Hathaway will buy "a wholly-owned subsidiary of Graham Holdings Company" that includes Miami's WPLG-TV. The consideration is "approximately 1.6 million shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway," Graham Holdings says in a press release. Graham Holdings used to be known as the Washington Post Co.

“I am sure this is a mutually beneficial transaction for both companies,” said Warren E. Buffett, chairman and chief executive officer of Berkshire Hathaway. “While this transaction will greatly reduce our position in Graham Holdings, our admiration for the company and its management is undiminished.”

Berkshire Hathaway purchased most of Media General's newspapers in 2012, and it's added lots of newspapers since.



Reuters reported in February that Berkshire Hathaway was in talks with Graham Holdings "to trade the shares it owns in the education and media company for control of a yet-to-be-formed unit of Graham."



Graham Holdings still owns TV stations in Detroit and Houston.

  • Andrew Beaujon

    Andrew Beaujon reported on the media for Poynter from 2012 to 2015. He was previously arts editor at TBD.com and managing editor of Washington City Paper. He's the author of the 2006 book "Body Piercing Saved My Life," about Christian rock and evangelical Christian culture.

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