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Paramount pops after Buffett's favorite banker makes 'interesting' bet in media giant's key shareholder
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In this article Paramount Global shares jumped more than 5% on Friday after an investor known as Warren Buffett's favorite banker piled into the media company's controlling shareholder.
National Amusements, Paramount's majority voting shareholder, announced Thursday afternoon that it has entered into an agreement for a $125 million preferred equity investment by BDT Capital Partners.
Some Buffett watchers noticed a curious connection with the news. BDT Capital's chairman and co-CEO is Byron Trott, who has long been known as Buffett's preferred and trusted banker.
It was Trott who suggested that Buffett put a $5 billion lifeline in Goldman Sachs during the 2008 financial crisis. The connection didn't end there.
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