By Dow Jones Business News,
August 14, 2014, 05:25:00 PM EDT
Berkshire Hathaway Inc. continued to add to its media-industry holdings during the second quarter, buying a small
stake in cable operator Charter Communications Inc.
Warren Buffett's company bought 2.3 million shares of Charter that were valued at $366 million as of June 30,
according to a regulatory filing. Berkshire also added nearly four million shares to its position in Verizon
Communications Inc. and now owns 15 million shares that were valued at $734 million. The Omaha, Neb., conglomerate first
bought Verizon shares in the first quarter. Berkshire also bought more shares of Liberty Global PLC, the European cable
company, but cut its stake in Liberty Media Corp.
Berkshire's holding of satellite TV operator DirecTV decreased during the quarter, although it still owned 23.5
million shares at the end of June. At nearly $2 billion, the DirecTV stake is one of the biggest holdings of Mr.
Buffett's two investment managers, Todd Combs and Ted Weschler. In May, AT&T Inc. agreed to buy DirecTV for $49 billion.
Three of Berkshire's four biggest holdings stayed the same--Coca-Cola Co., American Express Co. and Wells Fargo & Co.
It added about 1.8 million shares to its position of 68 million shares in International Business Machines, a stake that
was valued at $12.7 billion at the end of June.
Write to Anupreeta Das at firstname.lastname@example.org
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