Advanced Television

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.

Categories: Articles, Business, Funding