Warren Buffett's Berkshire Hathaway gets back to basics with $600 million Scripps deal after shock bets on Snowflake and Barrick Gold

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Warren Buffett's Berkshire Hathaway gets back to basics with $600 million Scripps deal after shock bets on Snowflake and Barrick Gold
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Warren Buffett's Berkshire Hathaway is set to invest $600 million in Scripps to help fund its $2.65 billion acquisition of ION Media.

The billionaire investor's company will receive preferred shares and a stock warrant in return, echoing Buffett's past deals with Goldman Sachs, General Electric, Bank of America, Mars, and Occidental Petroleum.

Berkshire's Scripps deal is a return to its roots after uncharacteristic bets on Barrick Gold and Snowflake in recent weeks.

Buffett's deputies seem willing to disregard Buffett's teachings, or emulate his strategies as needed.

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Warren Buffett's Berkshire Hathaway has shocked investors in recent weeks by dumping financial stocks, investing in a gold miner, and betting on a lossmaking technology company's IPO. However, its latest deal shows it hasn't completely torn up its traditional playbook.

The famed investor's conglomerate has committed $600 million to help finance Scripps'…
Theron Mohamed
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