Buffett completes purchase of Miami's Channel 10

July 9, 2014 

Channel 10 in Miami was owned by Graham Holdings.


WPLG-Channel 10 in Miami officially has a new owner.

Berkshire Hathaway, Warren Buffett's investment conglomerate, and Graham Holdings Co. reported July 1 that they have completed the sale of the television station and other assets of Graham Holdings to Berkshire Hathaway. The companies announced the deal on March 12.

In a deal valued at about $1.1 billion, Berkshire has acquired a wholly owned subsidiary of Graham Holdings, including WPLG, 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 1.62 million shares of Graham Holdings Class B common stock owned by Berkshire Hathaway.

WPLG, with studios in Pembroke Park, had been part of Graham Holdings, formerly called the Washington Post Group, for more than four decades and was named for the iconic Graham family. The Washington Post Co. purchased the station in 1969 and changed the call letters to WPLG in memory of publisher Philip L. Graham, the husband of Katharine Graham.

Graham Holdings will continue to own the other five stations, including the CBS affiliate in Orlando.

KeysNet is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service