Helm Capital - Warren Buffet’s Berkshire Hathaway has reported a 17 percent stake in Media General. Berkshire Hathaway Inc., the Omaha, Nebraska based investment firm run by Warren Buffet, reported in a regulatory filing that it owns a stake in publishing and broadcasting company Media General. Helm Capital has reportedly learned that the stake came as a result of Berkshire exercising its warrants in Media General to buy 4.65 million shares, paying one cent per share. The 4.6 million shares purchased are estimated to be worth around $24 million. The warrants were a result of Berkshire’s purchase of dozens of newspapers from Media General back in previous months for $142 million, along with at the same time providing a term loan of $400 million (at a reported 10.5 percent interest rate) and an additional $45 million revolving credit line. A source allegedly told Helm Capital that the nomination of Wyndham Robertson to the board of Media General is a Berkshire nomination and also related to the recent deal. Robertson had previously been a board member between 1996 and 2005 and according to Media General’s chairman J. Stewart Bryan “will provide valuable perspective as Media General moves ahead as a pure-play television broadcaster.” The proceeds from the recent deal were used by Media General to pay off millions in existing debt. Media General maintains ownership of 18 television stations, as well as the Tampa Tribune, although Helm Capital source did say that they will consider offers for the Tribune.