Warren Buffett Reveals 2.6B Investment In Paramount Global

Warren Buffett Reveals 2.6B Investment In Paramount Global
Warren Buffett’s Berkshire Hathaway reported Monday in a securities filing that it has acquired a stake in Paramount Global after acquiring 2.6 billion in Class B shares.

The SEC Form 13F filing showed that Buffett’s company acquired almost 69 million shares of Paramount Global during the first quarter, along with revealing that it also took other stakes in companies like Citibank. Overall, the investing giant acquired 51 billion in stocks during the first three months of 2022.

Buffett, who also owns stakes in entertainment companies like Apple and Amazon, buys into Paramount Global, formerly ViacomCBS, after the company’s Q1 2022 results included subscriber gains in its flagship streaming service Paramount+ and Pluto, topping expectations. But Wall Street skepticism on the limits of streaming gains sector-wide has kept the stock in the red for the year.

Paramount Global stock remains fully majority controlled by Shari Redstone and the Redstone family’s National Amusements.
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