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Warren Buffet picks up stake in 21st Century Fox

MUMBAI: Billionaire Warren Buffet’s investment vehicle Berkshire Hathaway has picked up 4.7 million shares for around $161 million in Rupert Murdoch’s 21st Century Fox.

Buffet in turn dumped all of its Exxon Mobil shares. In a quarterly filing with the Securities and Exchange Commission, Berkshire revealed that it bought 4.7 million shares of the Rupert Murdoch run company during the fourth quarter.

21st Century Fox was formed as the result of the 2013 split of News Corp’s publishing and mass media businesses. The media conglomerate is an umbrella for Fox TV shows, movies and networks such as Fox News and Fox Sports. Its TV studio is responsible for hits like ‘Modern Family’ and ‘New Girl’.

Last year, Berkshire had invested in cable television provider Charter Communications. The filing also revealed that Berkshire increased its stake in the cable provider from nearly 5 million to 6.2 million shares during the fourth quarter. The firm also raised its stakes in satellite television company DirecTV, Viacom and Liberty Global.

His company also took a larger stake in Deere & Co, as it increased its holdings of the agricultural and construction equipment company from 7.6 million shares to 17.1 million.

Meanwhile, Berkshire completely liquidated its roughly $4 billion stake in energy giant Exxon Mobil during the fourth quarter. Buffett’s firm unloaded about 41 million Exxon shares after initially investing in the company less than two years ago.