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Capital Cities/ABC

CapCities (defunct)
Media / Broadcasting•First mentioned: 1985•16 letter mentions

Investment Timeline

1985$3.5 billion acquisition
“We acquired 100% of Capital Cities Broadcasting... in a transaction that involved $3.5 billion... This was the largest acquisition in Berkshire's history at that time.”
1985 The Textile Exit & Quality Companies - 1985 →

Letters Mentioning Capital Cities/ABC

All Letters →
1985
The Textile Exit & Quality Companies - 1985
Buffett formally closed Berkshire's textile operations - marking the end of the business that started it all. The letter introduced the "owner earnings" concept as a truer measure of business value than accounting earnings, and discussed the acquisition of Scott & Fetzer.