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Warren Buffett-backed acquisition deal spurs 74% surge in E.W. Scripps

1 month ago   |   By Business Insider

Summary List Placement
Warren Buffett's Berkshire Hathaway will make a $600 million preferred equity investment in E.W. Scripps to help finance the television network company's acquisition of ION Media.
A combination of E.W. Scripps and ION Media will create a national TV network business that will reach more than 100 million households via over-the-air and pay TV platforms.
Berkshire Hathaway will also receive a warrant to purchase up to 23.1 million Class A shares of E.W. Scripps at an exercise price of $13 per share.
The announcement sent shares of E.W. Scripps higher by as much as 74%...
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Warren Buffett is investing $600 million in EW Scripps deal to buy ION Media

Warren Buffett is investing $600 million in EW Scripps deal to buy ION Media

1 month ago   |   By Business Insider

Summary List Placement
Berkshire Hathaway, owned by billionaire investor Warren Buffett, will invest $600 million in media group EW Scripps to help finance the purchase of US broadcasting company ION Media, according to the Wall Street Journal, citing people with knowledge of the matter, on Thursday.
Berkshire will make a preferred-equity investment and will also receive a warrant to buy as many as 23.1 million Class A EW Scripps shares at $13 apiece, the WSJ said. Scripps stock was trading up by more than 70% in premarket trading at $17.10 a share, compared with $10.47 at the close on...
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Warren Buffett is investing $600 million in EW Scripps deal to buy ION Media

Warren Buffett is investing $600 million in EW Scripps deal to buy ION Media

1 month ago   |   By Business Insider

Summary List Placement
Berkshire Hathaway, owned by billionaire investor Warren Buffett, will invest $600 million in media group EW Scripps to help finance the purchase of US broadcasting company ION Media, according to the Wall Street Journal, citing people with knowledge of the matter, on Thursday.
Berkshire will make a preferred-equity investment and will also receive a warrant to buy as many as 23.1 million Class A EW Scripps shares at $13 apiece, the WSJ said. Scripps stock was trading up by more than 70% in premarket trading at $17.10 a share, compared with $10.47 at the close on...
Read more ...

 


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