Berkshire Exercises Media General Warrants, Has 17% Stake
Posted: 9/26/2012 | By: Susanna Pak | Bloomberg
Warren Buffett’s Berkshire Hathaway Inc. has exercised warrants in Media General Inc. (MEG) to acquire 4.65 million shares of common stock.
Berkshire paid 1 cent a share under the agreement and now has about 17 percent of the stock, Buffett’s Omaha, Nebraska-based company said today in a regulatory filing. Richmond, Virginia-based Media General closed at $5.07 in New York.