Buffett slams Wells Fargo at Berkshire meeting
Warren Buffett accused Wells Fargo of failing to act on widespread illegal sales practices spanning at least 15 years. He said executives incentivized the wrong behavior and ignored reports, as former employees described fake accounts opened for undocumented immigrants.
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Sinclair Nears $4 Billion Deal to Acquire Tribune Media
Sinclair Broadcast Group Inc. is close to buying Tribune Media Co. for about $45 a share valuing Tribune at roughly $3.5 to $4 billion. The deal would add major markets like New York Chicago and Miami to Sinclair and alter TV distribution leverage amid FCC eased ownership cap rules.
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