Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) is buying a Miami television station.
Omaha-based Berkshire is buying WPLG, a Miami-based television station, from Graham Holdings Co. (NYSE: GHC) by acquiring a Graham subsidiary that owns that station.
As part of the deal, Berkshire would pay about 1.6 million shares of Graham Holdings' class B common stock and an undetermined amount in cash.
Berkshire Hathaway's subsidiaries provide services in the insurance, utilities, transportation, finance, manufacturing and retail industries.
Mergers & Acquisitions has seen several deals for television stations recently. In March, Meredith Corp. (NYSE: MDP) closed a deal for KMOV-TV, a CBS-affiliated television station in St. Louis, Mo. Meredith is also planning on buying two television stations in Phoenix. In Feburary, E.W. Scripps Co. (NYSE: SSP) agreed to buy two television stations in Detroit and Buffalo, N.Y., for $110 million.
For more on broadcast station M&A, see "Broadcasting Stations Beckon Buyers."