Warren Buffet In Talks To Exit $1.1 Billion Investment In Graham Holdings
REUTERS
Billionaire investor Warren Buffett of Omaha makes a rare public appearance during an autograph session outside Borsheim's Jewelry Store in Omaha, May 4, 1997.
Buffett's Berkshire Hathaway Inc. and Graham Holdings are negotiating a stock swap, according to documents submitted late on Wednesday to the US markets regulator, the Securities and Exchange Commission.
It would involve Berkshire handing 1.7 million shares of Graham Holdings, a stake of about 28 percent and worth about $1.1 billion, back to the company.
Graham Holdings changed its name from Washington Post Co. after selling its flagship newspaper to Amazon chief executive Jeff Bezos last year.
The billionaire Buffett had forged a strong friendship with the Post's boss Katharine Graham, who died in 2001.
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