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Warren Buffett’s Berkshire Hathaway Acquires Small Stake in Paramount Global

Warren Buffett’s Berkshire Hathaway invested about $2.6 billion in Paramount Global during the first quarter of 2022, according to a Securites and Exchange Commission filing that disclosed the quarterly stock trading activity of his Berkshire Hathaway holding company.The 91-year-old Buffett, who serves as the owner and CEO of Berkshire Hathaway, has garnered the reputation of a value investor over his career, picking up shares in companies that he believes are undervalued or misunderstood by the markets.His investment in Paramount Global bodes well for the entertainment company as it continues to gain steam in Hollywood’s ongoing streaming wars, using its growing service Paramount+ to compete against Disney, Warner Bros. Discovery, NBCUniversal, Netflix, Apple and more in the digital space.

Along with operating Paramount+, Paramount Global also owns CBS, Comedy Central, MTV, Nickelodeon and Showtime. As of Monday, Paramount Global’s total market cap stands at $18.3 billion, meaning Buffett’s stake in the company totals nearly 15%.

However, Berkshire Hathaway purchased Class B shares, which don’t have the same voting rights as the Class A shares that are largely owned by Shari Redstone’s National Amusements Inc. holding company.Before Monday, Buffett divulged the company’s newest investments to shareholders during the company’s recent annual meeting.

In the past, Buffett has been an on-again, off-again shareholder in Paramount’s predecessor, Viacom.Along with Buffett’s stake in Paramount, Berkshire Hathaway also added heavy investments in Chevron, Occidental Petroleum and HP Inc. as well as the addition of around four million Apple shares and two million General Motors shares.

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Hollywood: Main News

Warren Buffett’s Berkshire Hathaway invested about $2.6 billion in Paramount Global during the first quarter of 2022, according to a Securites and Exchange Commission filing that disclosed the quarterly stock trading activity of his Berkshire Hathaway holding company.The 91-year-old Buffett, who serves as the owner and CEO of Berkshire Hathaway, has garnered the reputation of a value investor over his career, picking up shares in companies that he believes are undervalued or misunderstood by the markets.His investment in Paramount Global bodes well for the entertainment company as it continues to gain steam in Hollywood’s ongoing streaming wars, using its growing service Paramount+ to compete against Disney, Warner Bros. Discovery, NBCUniversal, Netflix, Apple and more in the digital space.
Marc Malkin Senior Film Awards, Events & Lifestyle EditorClick through the gallery to see the hottest party pics from Hollywood and beyond.

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Jennifer Aniston's 'debate' for famous actor's affections in unseen video
Jennifer Aniston and Drew Barrymore may have a mutual good friend and co-star in common, but they are not about pitting themselves against each other for him!ALSO: HELLO! launches Jubilee T-shirt collection to celebrate Queen Elizabeth in styleOn the latest episode of The Drew Barrymore Show, the host unveiled a never-before-seen interview with the fellow actress from a special trip to Los Angeles she and her show did when it first debuted in 2020.The two stars sat down outside the iconic Paramount Studios gate in Hollywood, where they discussed some of Jen's most iconic roles, and the daunting process of "making it in California."WATCH: Jennifer delights fans by wearing an incredible coat alongside co-star Adam SandlerMORE: Jennifer Aniston and Kate Hudson are friendship goals in stunning unseen photosAs the two were discussing her prolific career, Drew couldn't help but mention someone that elicited instant applause from the audience with just his name: Adam Sandler.While pictures appeared of the two stars with him, they affectionately called him "Sandman," and described him as "one of a kind" and as "a unicorn."The Morning Show star fondly said of him: "He walks with joy, lives with joy, and he doesn't get moody… comedians are moody." Adam is one of Jennifer's closest friends and they are set to star side by side yet again in the Murder Mystery sequelAs Drew confessed that's the type she's attracted to, she brought up a viral Twitter debate concerning the trio, which proposed a difficult question: "Who is a better partner for Adam Sandler, Jennifer Aniston or Drew Barrymore?" MORE: I tried Jennifer Aniston's ultra-healthy salad that she ate every day for ten yearsMORE: Friends' Jennifer Aniston and Courteney Cox
Hollywood is a neighborhood in the central region of Los Angeles, California, notable as the home of the U.S. film industry, including several of its historic studios. Its name has come to be a shorthand reference for the industry and the people associated with it. Hollywood was incorporated as a municipality in 1903. It was consolidated with the city of Los Angeles in 1910 and soon thereafter, a prominent film industry emerged, eventually becoming the most recognizable in the world.
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