Warren Buffett's Berkshire Hathaway boosts Sirius XM stock with new stake
Sirius XM Holdings stock surged by 12% after Warren Buffett's Berkshire Hathaway revealed a new stake in the company. Berkshire purchased nearly 9.7 million shares worth about $43.8 million in the September quarter. Despite struggling this year, Sirius reported a beat on earnings but missed revenue expectations. The company's advertising revenue, however, increased by 0.7% year over year. Buffett also sold off holdings in other companies and made investments in Atlanta Braves Holdings. Berkshire Hathaway has a long history with media and entertainment businesses, with Buffett expressing his interest in the industry's future.
