Legendary value investor Warren Buffett took a stake in a leading media company in the first quarter. Could the purchase by Buffett signal placing multiple bets on the streaming wars or that the company is in the value stock territory?
What Happened
A 13F filing shows that Berkshire Hathaway Inc took a new $2.6 billion stake in media company Paramount Global Inc.
Paramount Global is the new name given to the company after a merger brought Viacom and CBS back together after a previous split. Assets owned by Paramount Global include the CBS broadcast channel, cable channels such as MTV, Comedy Central, Nickelodeon and Nick Jr., and the Paramount+ streaming service….