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Buffett's Berkshire Hathaway Lifts Stake in SiriusXM

SiriusXM

Warren Buffett's Berkshire Hathaway is expanding its investment in SiriusXM Holdings Inc., further solidifying its position as the satellite radio company's largest shareholder. Recent filings reveal that the conglomerate purchased an additional $42 million worth of SiriusXM shares over three days last week. This follows another significant buy earlier in the month, when Buffett acquired 36 million shares for approximately $87 million between October 9-11.

These purchases bring Berkshire's total stake in SiriusXM to about 32.5%, reinforcing its confidence in the company despite a challenging year for SiriusXM, with its stock down 50% due to anticipated lower sales. Buffett's gradual accumulation of shares, which began in 2016, has continued steadily, with his total holdings now reaching 108.7 million shares.

SiriusXM, known for its satellite radio services, has been making moves to expand its content offerings. Among the latest developments is the acquisition of exclusive content, such as Alex Cooper's popular podcast, Call Her Daddy, which is set to debut on the platform in 2025.

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Buffett's Berkshire Hathaway Lifts Stake in SiriusXM

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Buffett's Berkshire Hathaway Lifts Stake in SiriusXM

Latest Radio Stories

Follow us on:

Copyright © 1989-2024 RADIO ONLINE ®

Copyright © 1989-2024 RADIO ONLINE ^®