Warren Buffett’s Berkshire Hathaway Inc BRK has made a significant investment in Liberty SiriusXM Group LSXMAthe parent company of SiriusXM Radio and other multimedia resources.
What happened: Berkshire Hathaway acquired Liberty Media’s Series A Liberty SiriusXM common stock worth $116.58 million.
The conglomerate made these purchases over a six-day period this month, acquiring more than 4.3 million shares at prices between $25.67 and $27.76. This increased Berkshire Hathaway’s stake in Liberty Media Corp to a total of 69,044,244 shares.
These transactions were disclosed through SEC Form 4 filings, which provide insights into the trading activities of a company’s insiders, giving investors insight into the strategic moves of high-profile investors like Warren Buffett.
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Because matter: This investment by Berkshire Hathaway increases its stake in Liberty Media, which has a diversified portfolio in the media and entertainment sector.
Earlier this year, on February 8, it was reported that Buffett’s Berkshire Hathaway had added Liberty Media to its portfolio. At the time, Berkshire’s stake in Liberty Media amounted to nearly 21%.
This came after Liberty Media proposed a corporate merger with Sirius XM Holdings Inc. in September 2023.
Price Action: Berkshire Hathaway shares closed 1.39% lower at $608,091 on Friday, while Liberty SiriusXM shares closed 2.75% lower at $25.50, according to Benzinga Pro.
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Disclaimer: This content was partially produced with help from Benzinga Neuro and has been reviewed and published by Benzinga editors.
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