Who Swapped Shares of Sirius XM With Liberty Media? It Turns Out to Be Warren Buffett’s Berkshire Hathaway.
Warren Buffett and media mogul John Malone are both skilled in the art of tax-efficient transactions and they showed it again this week — with each other. Buffett’s Berkshire Hathaway (ticker: BRK.B) and Malone’s Liberty Media did a stock swap involving shares of Sirius XM Holdings (SIRI), the satellite radio company, and Liberty SiriusXM Group (LSXMA), in a move that could provide significant financial and tax benefits for Liberty Media. Berkshire said in a filing on Wednesday that it purchased on Monday 5.3 million class A shares of Liberty SiriusXM Group, one of the three tracking stock for Liberty Media, at $50.02 a share, in a transaction worth $267 million.