Berkshire Hathaway Inks Deal With Graham Holdings To Buy WPLG-TV - Quick Facts

(RTTNews) - Graham Holdings Co. (GHC) and Berkshire Hathaway Inc. (BRK-B, BRK-A, BRKa) have reached an agreement in principle for Berkshire to acquire an unit of Graham Holdings, which would include WPLG, a Miami-based television station, a number of Berkshire shares currently held by Graham Holdings Co. and an amount of cash, in exchange for nearly 1.6 million shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway.

The specific number of shares of each company and the cash amount would be decided on the closing date based on certain factors, including the market prices of the shares of both companies at that time. No binding deal has yet been signed relating to the transaction. The transaction is subject to agreement on definitive documentation, and would be subject to regulatory approvals and other customary conditions.

Further, there would be certain termination rights relating to minimum trading prices of the stock of each company immediately prior to closing and to a minimum value of the television station for purposes of the transaction on the closing date.