Miami Condo Market and Lifestyle Updates
Oracle of Omaha will Buy WPLG-Channel 10

Oracle of Omaha will Buy WPLG-Channel 10

by Sep Niakan | March 21, 2014

Berkshire Hathaway, Warren Buffett’s investment firm, will purchase the local Miami television station, WPLG-Channel 10 from Graham Holdings.

Warren Buffett, known as the “Oracle of Omaha,” or more commonly known as the second richest man alive, is planning on purchasing the WPLG-Channel 10 station for an impressive and confusing deal.

Buffett will purchase WPLG for $1.1 billion, along with an undisclosed amount of Berkshire Hathaway shares that Graham Holdings owns. In return, Graham will get 1.6 million shares of Graham Holdings stock that Berkshire Hathaway owns. The deal values the station at $364 million.

WPLG ranks in the top two for English stations in the Miami market. South Florida is known as the 16th largest TV market in the United States, with about 1.7 million homes in the market, which is about 1.4% of the country’s viewers.

WPLG itself opened in 1957 as an affiliate of ABC under the Walt Disney Company, and has been owned by Graham Holdings for over 40 years. Graham Holdings purchased the station in 1969, and changed the call sign to WPLG in memory of Philip L. Graham, the publisher and husband of Katharine Graham.

 

Source: miamiherald.com

Photo credit: Warren Buffett businessinsider.comWPLG Miami office - local10.comLogo Local 10 - itunes.apple.com

Recent posts

Lifestyle

A Visit to Miami’s Top Dozen Hotel Swimming Pools

by Sep Niakan | June 26, 2017

Believe it or not, some people don't actually enjoy the beach. It's hot, it's (sometimes) crowded, and they could definitely do without all that sand stuck in their bathing suit. Water-and-sun-loving Miamians can also escape to these top...

Real Estate News

Miami’s New and Pre-Construction Condo Update: May 2017

by Sep Niakan | June 19, 2017

There was a lot going on in Miami’s condo pre-construction market this May. Foundations have been laid, two top-offs have been accomplished, Merrick Manor had a change of sales team and Naranza Edgewater is currently open for sales. Read all...

Lifestyle

Amazon Echo: How my 70-ish Parents Have Embraced Home Automation - Sort Of

by Sep Niakan | June 18, 2017

Meet Alexa For the uninitiated, Alexa is your in-home virtual assistant from Amazon. It is a voice-enabled service that comes with the wireless Amazon Echo range of smart speakers. Available in “echo”, “dot” and...

Real Estate News

Luxury Miami Condo Report : May 2017

by Sep Niakan | June 18, 2017

Miami Luxury Condo Report Overall Market Summary City and Neighborhood Luxury Condo Reports             Miami Beach Luxury Condo Report                    ...