Graham Holdings Company (NYSE: GHC) and Berkshire Hathaway Inc. (NYSE:
BRK.A; BRK.B) reported today that they have completed a transaction,
announced March 12, 2014, in which Berkshire has acquired a wholly-owned
subsidiary of Graham Holdings, including WPLG, a Miami-based television
station, 2,107 Class A Berkshire shares and 1,278 Class B Berkshire
shares owned by Graham Holdings and $327.7 million in cash, in exchange
for about 1,620,000 shares of Graham Holdings Class B common stock owned
by Berkshire Hathaway.
About Berkshire Hathaway (www.berkshirehathaway.com):
Berkshire Hathaway and its subsidiaries engage in diverse business
activities including property and casualty insurance and reinsurance,
utilities and energy, freight rail transportation, finance,
manufacturing, retailing and services. Berkshire’s common stock is
listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
About Graham Holdings Company (www.ghco.com):
Graham Holdings Company (NYSE: GHC) is a diversified education and media
company whose principal operations include educational services,
television broadcasting, cable systems and online, print and local TV
news. The Company owns Kaplan, a leading global provider of educational
services; Post–Newsweek Stations (WDIV–Detroit, KPRC–Houston,
WKMG–Orlando, KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving
small-city subscribers in 19 midwestern, western and southern states;
and The Slate Group (Slate, Slate V, The Root); and Foreign Policy. The
Company also owns Trove, a digital team focused on innovation and
experimentation with emerging technologies; SocialCode, a leading social
marketing solutions company; Celtic Healthcare; Forney Corporation; and
Joyce/Dayton Corp.
Copyright Business Wire 2014