Berkshire Exercises Media General Warrants, Has 17% Stake

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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.

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