Football is finally back, which marks the return of a number of our favorite things: beer, barbecues, tailgating, fantasy football, cheerleaders, and… tremendous cash injections for the U.S. economy. Although it is not considered “America’s Pastime,” the National Football League (NFL), not a public company, is easily the most profitable professional sports institution in America.
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Buffett's $200,000 Stock
Just weeks ago, on August 14, Class A shares of American conglomerate Berkshire Hathaway (BRK-A) surpassed $200,000. Yes, you read that right, $200,000: making Berkshire Hathaway the single most expensive stock traded on U.S. markets. The current price of these Class A shares alone is impressive; however, when you consider that in 1967 the company traded at $33 per share, this milestone is downright insane.
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The $50 Billion Acquisition
Last week, AT&T (T), the second largest wireless provider in America, announced its intent to purchase satellite television provider DirecTV (DTV) for $50 Billion. The takeover will allow AT&T to bundle more television, mobile, and Internet plans while improving the quality of its overall services. By acquiring DirecTV, AT&T will now serve more than 26 million video users in the United States.
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Sprint, Your New BFF
Wireless telecommunications provider Sprint (S) aims to expand its share of the cellular services market by acquiring T-Mobile (TMUS), the fourth largest cell carrier in America. This move would not only cement Sprint’s position as the third largest American carrier, but would also increase its mobile spectrum, allowing Sprint to better compete with Verizon (VZ) and AT&T (T), the top two American market leaders.
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