Berkshire Hathaway Sells Off Paramount Stake, Impacting Stock

The sale by Warren Buffett's conglomerate leads to a nearly 3% drop in Paramount Global shares and sparks merger and sale speculation.

Warren Buffett's Berkshire Hathaway significantly reduced its stake in Paramount Global by selling about 30.4 million shares, marking a 32% decrease in its investment.
The sale of Berkshire Hathaway's shares in Paramount Global led to a decline in the studio's stock, with shares falling nearly 3% at market open on Thursday.
Paramount Global is exploring a sale or merger, having received interest from entities such as Warner Bros. Discovery, Skydance Media, and Byron Allen.
Paramount Global announced a workforce reduction of approximately 3%, equating to 800 jobs, earlier this week.
Speculation about potential takeovers and divestitures for Paramount Global has increased, including the possibility of combining filmed entertainment studios for greater scale.