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

NY - News Corp. chairman and Boss Rupert Murdoch has offered nearly all his non-voting shares inside the entertainment conglomerate, with different controlling filing. An origin mentioned the acquisition, revealed in the controlling filing late Friday, will be a pure financial planning move that will not reduce his voting stake within the organization. Another moguls and industry professionals regularly sell small amounts of stock inside their companies to enhance money that they may use or place in their estate. The Financial Occasions reported the acquisition reverses stock purchases created in February, that have been layed out just like a signal of Murdoch's confidence inside the company's outlook. A News Corp. representative declined to go over the stock purchase. In line with the controlling filing, the 80-year-old Murdoch offered 3.63 million class A non-voting shares at prices which can be between $16.60 and $17.26. Overall, the acquisition netted him around $61.7 million, in line with the Feet. Because the purchase was of non-voting stock, it won't dilute the Murdoch family's forty percent voting stake in News Corp. Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Subjects Rupert Murdoch News Corp.