American Broadcasting Companies, Inc.

American Broadcasting Companies, Inc. (ABC) was a major American television and radio network that became a significant common stock holding for Berkshire Hathaway in the late 1970s.

📝 The Investment

• Portfolio Concentration: Identified in the 1978 shareholder letter as one of Berkshire's major equity holdings with a market value exceeding $8 million.
• Position (1978): Berkshire held 246,450 shares with a cost of $6.0 million and a market value of $8.6 million.
• Strategic Context: This investment reflects Buffett's affinity for media and broadcasting businesses with high returns on capital and strong competitive positions during the high-inflation era of the 1970s.

🔗 Connections

• Company: The Washington Post Company (Media peer)
• Source: 1978 Letter