Murdoch sells “A Class” shares
November 22, 2011
By Chris Forrester
Rupert Murdoch has sold almost all his News Corp ‘A Class’ shares, reducing his common shareholdings from around 4 million non-voting shares to just 381,000. Selling 3.6 million shares generated a total of about $62 million. Murdoch sold the stock for “financial planning reasons” according to press reports. Back in February he had bought 2.8 million A Class shares at prices of about $17.30. These latest sales were at between $16.76 and $17.07, suggesting they could have been sold at a loss.
Murdoch still owns plenty of all-important News Corp stock in the form of B-Class voting shares, via his own and family trust holdings which total 40 per cent.