Graham Holdings and Berkshire Hathaway finalized an...

Graham Holdings and Berkshire Hathaway finalized an agreement (CD March 21 p13) for Berkshire to buy a wholly owned subsidiary of Graham Holdings that includes WPLG Miami, Berkshire shares held by Graham, and cash, in exchange for 1.6 million shares of Graham stock currently owned by Berkshire, said the media company in a news release Friday (http://bit.ly/1qJ24ai). It said the specific number of shares and cash in the deal will be determined on the closing date based on “certain factors, including the market prices of the shares of both companies at that time.” A report in The Washington Post, formerly owned by Graham Holdings, said the deal is intended to save the two companies $675 million in income taxes (http://wapo.st/1kCPVWN).