Warren Buffett Establishes New Position in Viacom
The billionaire investor also adds to his existing stakes in Liberty Media and DirecTV.
Warren Buffett's Berkshire Hathaway sent a bullish signal to the media industry by adding a new position in Viacom in the first quarter while almost doubling its stake in Liberty Media and adding to its position in DirecTV, according the investment conglomerate's quarterly holdings statement released Tuesday.
The stake in Viacom, though, worth about $76 million, is tiny in comparison to ownership positions Berkshire has in Walmart, Wells Fargo, IBM and a host of other companies.
During the quarter, Berkshire also created a new position in General Motors for about $257 million and it shrunk its stake in Intel, Kraft Foods and Procter & Gamble.
Berkshire reported that its U.S. stock investments were worth $75 billion at the end of the quarter, up from $66 billion in the year-ago quarter.