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

Saturday that Berkshire Hathaway ( BRK/A ) sold its entire

holding in media and entertainment company Paramount Global ( PARAA )

at a loss and he took sole responsibility for the

decision.

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

quite a bit of money," Buffett said at Berkshire's annual

shareholder meeting in Omaha, Nebraska.

Berkshire held 63.3 million Paramount Class B shares at the

end of 2023 or about 10.1% of the company.

Paramount, like other studios, has been struggling to

recover from strikes by Hollywood writers and actors last year,

a soft advertising market and falling U.S. cable subscriptions

that have eroded its TV profits.

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 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 declined to comment on Berkshire's stock

sale.