Tuesday, February 15, 2005

Liberal Media??? Pinch me.

This is potentially HUGE. Via Will Pitt's FYI:
    Buffett, Soros make cable buys
    Buffett's firm doubles holdings in Comcast; Soros buys Time Warner, Echostar.

    February 15, 2005: 10:09 AM EST

    NEW YORK (CNN/Money) - Billionaire investors Warren Buffett and George Soros are getting hooked up with cable.

    Filings with the Securities and Exchange Commission show Buffett's company, Berkshire Hathaway, doubled its holdings in Comcast Corp., the nation's largest cable operator to 10 million shares, during the fourth quarter, while it dumped its shares in hospital operator HCA and slashed its holdings in athletic apparel manufacturer Nike.

    Soros Fund Management LLC disclosed in its own SEC filing that as of Dec. 31, it owned 2.6 million shares of Time Warner, owner of Time Warner Cable, the nation's No. 2 cable operator, as well as a host of other media properties, including CNN/Money. It had no shares in Time Warner at the end of the third quarter.

    Soros's fund also bought 17 million shares of satellite television operator Echostar Communications during the quarter, adding another company it did not own on its earlier report. And it bought 209,272 shares of media conglomerate News Corp., which besides owning a number of broadcast and cable networks recently gained satellite television provider DirecTV.
The beginnings of media counterbalance? Am I dreaming?

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