Warren Buffett is making waves once again, this time by ramping up his investment in Sirius XM Holdings Inc. Berkshire Hathaway has recently added a hefty $42 million worth of shares in the radio broadcasting giant over just three days, as revealed in regulatory filings.
With this latest acquisition, Berkshire now holds approximately 32.5% of Sirius XM’s publicly traded stock, solidifying its position as the company’s largest shareholder. This significant increase follows billionaire John Malone’s Liberty Media, which recently restructured its stake, splitting off its 83% interest in Sirius XM and merging it with its tracking shares.
Despite the turbulence in the market, where Sirius XM’s shares have plummeted by 50% this year due to concerns over declining sales, Buffett’s move offers a glimmer of support. The investment signals confidence in the company’s future and reinforces Berkshire’s commitment to the media sector.
As Buffett continues to navigate the ever-changing landscape of investments, this bold bet on Sirius XM is sure to draw attention from both investors and market analysts alike. What does this mean for Sirius XM’s trajectory? Only time will tell, but for now, Buffett’s faith in the company is evident.
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