Ten’s bid for AFL broadcast rights strengthened by $2.6B Paramount Global investment

May 19, 2022 11:12

Paramount Global stock has stabilised after shooting up by 15% on Tuesday, following a $6.2 billion investment by Berkshire Hathaway, multi-billionaire Warren Buffet’s venture investment firm.

Berkshire bought almost 69 million shares in the company.

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Seja Al Zaidi

Seja Al Zaidi was Mumbrella’s finance reporter, spearheading the publication’s coverage on the financials of advertising, marketing and media sectors.

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2 COMMENTS

Square Eyes 19 May 22

Can you explain exactly how this will “embolden” Ten or give them “a financial advantage” to bid more for the AFL???

Berkshire Hathaway bought the shares from another shareholder. The money doesn’t go into the Paramount bank account. They’re still something like $20 billion in debt

Also, they aren’t just bidding for the AFL Grand Final, by the way. They’re bidding for all the AFL rights across the season

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Emma Shepherd 19 May 22

Yes, we are just saying that Paramount stock soared as much as 16% after Warren Buffett’s Berkshire Hathaway revealed a stake in the company. We also just wanted to give a local update on the company here. Thank you for letting us know about the AFL headline, we have since corrected it as it was an error on our end.