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Media Companies

Rupert Murdoch Sells $62 Million Worth of Shares

By Chris O'Shea on November 21, 2011 3:31 PM

Rupert Murdoch has sold off 3.6 million News Corporation A shares — worth around $17 each — for a total of $62 million. According to Reuters, the sale drops his A share stocks down to just 381,000, from about four million.

Yes, that’s quite the decline. But before you start to think big changes are coming to News Corp., remember: Only B shares have voting rights in the company.

Basically Murdoch just got some spending cash. Everything else remains the same. For better or worse.

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