NEW YORK, May 4 (Reuters) - Warren Buffett said on

Saturday Berkshire Hathaway sold its entire holding in

Paramount at a loss, a decision he said was his sole

responsibility.

"It was 100% my decision and we've sold it all and we lost

quite a bit of money," Buffett said while speaking at

Berkshire's annual shareholder meeting in Omaha, Nebraska.

The Omaha-based conglomerate had 63.3 million Paramount

Global Class B shares as of the end of 2023.

Paramount, like other studios, has been struggling to

recover from last year's months-long strikes by Hollywood

writers and actors, a soft advertising market and falling cable

subscriptions in the United States that has eroded profit for

its TV business.

A special committee of the Paramount board, created to

evaluate offers for the company, has been holding exclusive deal

talks with Skydance Media but Paramount Global ( PARAA ) will end those

negotiations without a deal, a person familiar with the

discussions told Reuters on Friday, allowing it to evaluate a

rival bid.

The media giant did not immediately respond to a request for

comment on Berkshire's stocks sale.