(Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) reported that it owns a 17 percent stake in U.S. broadcaster and publisher Media General MEG.N, as the conglomerate continues to boost its investment in the newspaper industry.
Berkshire exercised its warrants in Media General to buy 4.65 million shares, the company said in a regulatory filing on Monday.
Berkshire bought the warrants in May as part of a deal to take a majority of Media General’s newspapers for $142 million in cash.
Media General shares closed flat at $5.07 on Monday on the New York Stock Exchange.
Reporting by Ashutosh Pandey in Bangalore; Editing by Daniel Magnowski