Berkshire Hathaway Boosts SiriusXM Stake to 32%

Warren Buffett's firm increases its investment following Liberty Media's merger, causing SiriusXM shares to rise.

Berkshire Hathaway purchased 3.6 million shares of SiriusXM, increasing its stake to 32% at a cost of about $87 million.
SiriusXM's stock price rose nearly 9% following the announcement but remains down over 50% for the year.
The move follows a merger between SiriusXM and Liberty Media's tracking stocks, which was completed in early September.
SiriusXM has been struggling with subscriber losses and declining revenues, with a recent 3% drop to $2.18 billion.
The company has signed a $125 million deal to bring the 'Call Her Daddy' podcast to its platform starting in 2025.