Warren Buffett Just Bought More of This Streaming Stock. Should You?

Warren Buffett's firm Berkshire Hathaway originally bought 68.9 million shares of Paramount Global (NASDAQ: PARA) in the first quarter of 2022. During the second quarter, the Oracle of Omaha added another 9.5 million shares to bring his total ownership to 78.4 million by the end of the year's first half.

Buffett now owns nearly 13% of the company's Class B shares, making him the largest such shareholder. Here's why you should own shares too.

In the immortal words of Paramount's founder, Sumner Redstone, "content is king." That may be what Buffett saw when he initially built a position in the company's stock. Paramount's branded networks include Nickelodeon, Comedy Central, and BET. Perhaps more captivating are Paramount's news and sports franchises, which air on cable, broadcast, and streaming platforms.

Source Fool.com