Yahoo Finance will live-stream Berkshire Hathaway's annual shareholders meeting, the two companies announced Tuesday, marking a first-ever live broadcast for the famed "Woodstock for capitalists."
For most companies, annual shareholder meetings elicit little more than a yawn from the broader public. But for decades, investor and Berkshire Hathway Chairman Warren Buffett and Vice Chairman Charlie Munger have drawn tens of thousands of investors to Omaha, Nebraska, for a medley of company financials, economic musings and billionaire whimsy.
Yahoo's announcement of the deal comes two weeks after the Wall Street Journal reported the event would be broadcast online. The arrangement will potentially expand the audience from the 40,000 who have attended in recent years to a base of some 75 million monthly Yahoo Finance users.
“Over the past 50 years, we’ve seen a tremendous increase in the interest around our shareholders meeting," Buffett said in a statement. "Partnering with Yahoo Finance provides us with the opportunity to reach more people than ever in key financial centers around the world, from New York to China and beyond.”
The broadcast is scheduled to showcase not only the meeting itself but stops at surrounding Omaha steakhouses and furniture outlets that have long given Wall Street visitors their fill of Midwest quirk and charm.
The partnership also promises to bring more attention to Yahoo Finance, a division of the struggling tech behemoth that has shown promise amid calls for Yahoo to break itself up. Late last year, SpringOwl Asset Management, a major Yahoo investor, encouraged the company to refocus its attention on expanding its finance and sports segments.
The Berkshire Hathaway Shareholders Meeting is scheduled for April 30.