Last week, Warren Buffett's investment group $Berkshire Hathaway-A (BRK.A.US)$ made a significant purchase of shares in a broadcasting company $Sirius XM (SIRI.US)$ . According to the documents submitted to regulatory agencies last Friday, this investment group bought $86.73 million worth of stocks within three days, increasing its total holdings in the company to 0.10872 billion shares. Berkshire Hathaway bought 0.8698 million shares of SiriusXM stock on Wednesday of last week; on Thursday, they made two separate trades buying 0.9178 million shares and 517,200 shares respectively; they bought 1.2593 million shares on Friday.

As of the time of publication, sirius xm's US stocks surged nearly 8% in after-hours trading.

Berkshire Hathaway disclosed its stake in SiriusXM as early as November 2023. In September of last year, after completing a transaction with Liberty Media, SiriusXM became a capital structure simplified independent public company. This broadcasting company is expected to announce its first performance since then on October 31.

In 2008, Sirius Satellite Radio merged with XM Satellite Radio Holdings to form SiriusXM, providing music, sports, entertainment, comedy, talk, news, traffic, weather channels, and information services through its proprietary satellite broadcast system in North America. SiriusXM later acquired the former music streaming giant Pandora. The official website shows that SiriusXM's revenue for the 2023 fiscal year reached $8.95 billion, with EBITDA and net income of $2.79 billion and $1.26 billion respectively, reaching 0.15 billion listeners, with approximately 34 million subscribers.

In contrast, Berkshire Hathaway has been heavily selling stocks. $Bank of America (BAC.US)$ The company has been reducing its holdings of the second largest bank in the USA since mid-July, and has recently reduced its stake to below 10%.

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