businessneutral

Warren Buffett’s Berkshire Hathaway Ups Stake in SiriusXM

Omaha, Nebraska, USAMonday, October 14, 2024

Warren Buffett’s Berkshire Hathaway has boosted its investment in SiriusXM, now holding 32% of the company. This increase comes after John Malone's Liberty Media restructured its media empire, including combining tracking stocks with SiriusXM. Berkshire started buying SiriusXM shares in 2024, possibly as a merger arbitrage move. The investment in SiriusXM, despite its struggles with subscriber losses and shifting demographics, is intriguing.

Only five out of fourteen analysts covering SiriusXM see it as a buy, highlighting the stock's unpopularity on Wall Street. Analysts like Sebastiano Petti from JPMorgan have raised concerns about the company's growth prospects and its ability to cater to a broader audience. The recent Liberty Media transaction may also impact share buybacks, affecting the stock's performance.

jpmorgan malone liberty media buffetts berkshire hathaway wall street john warren

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