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General News 11/22/2011 at 9:54 AM EST

CEO Rupert Murdoch Sells Block of Non-Voting News Corp. Shares

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The Financial Times reported that the sale reverses stock purchases made in February, which had been highlighted as a signal of Murdoch's confidence in the company's outlook.
A News Corp. spokesman declined to comment on the stock sale.
According to the regulatory filing, the 80-year-old Murdoch sold 3.63 million class A non-voting shares at prices of between $16.60 and $17.26. Overall, the sale netted him around $61.7 million, according to the FT.
Because the sale was of non-voting stock, it won't dilute the Murdoch family's 40 percent voting stake in News Corp.

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Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.

Related Topic(s): Corporation News Corp Rupert Murdoch; Media Scandal; Phone Hacking; Scandal News Corp; Stock Market- Investing, Add Tags

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