Rupert Murdoch Sells $40.1M In News Stock

Rupert Murdoch this week sold voting shares in News Corp worth about $40.1 million, according to an SEC filing reported today by the company’s Wall Street Journal. The sale reduced the chairman/CEO’s stake by only a fraction of a percent. Murdoch sold 1.396 million class B shares on Wednesday for $28.72 each. Today the shares hit an all time high of $29.34. B shares have gained nearly 45% over the past year. Murdoch and members of his family own nearly 40% of News Corp.’s voting shares, most of them through a family trust. The shares sold this week were held by a different Murdoch trust, reducing its stake to 9.25 million shares from 10.6 million shares. Overall the Murdoch family’s voting stake dropped to 39.6% from 39.7%.

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