Buffett's Berkshire Hathaway Nabs TV Station In $1.1B Swap

Law360, New York (March 12, 2014, 1:39 PM EDT) -- Warren Buffett’s Berkshire Hathaway Inc. is looking to substantially pull back ties with former Washington Post owner Graham Holdings Co., agreeing in principle to acquire a Miami television station and unload most of its Graham stock in an approximately $1.1 billion deal, the companies said Wednesday.

Berkshire and Graham said they have reached an agreement in principle for Berkshire to acquire WPLG, which is the ABC affiliate in Miami, get back some Berkshire shares currently held by Graham and get paid approximately $327 million in cash,...
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