Graham Holdings Co and Berkshire Hathaway reach agreement in principle for Berkshire Hathaway to acquire WPLG-TV
Graham Holdings Co and Berkshire Hathaway Inc:Says they have reached an agreement in principle for Berkshire to acquire a wholly-owned subsidiary of Graham Holdings Company.Says the acquisition will include WPLG, a Miami-based television station, a number of Berkshire shares currently held by Graham Holdings Company and an amount of cash, in exchange for about 1.6 mln shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway.The specific number of shares of each company and the amount of cash will be determined on the closing date based on certain factors, including the market prices of the shares of both companies at that time.No binding agreement has yet been signed in connection with the transaction.
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