Rupert Murdoch Sells 3 Million Shares of 21st Century Fox
The sale leaves the chairman and CEO with 5.25 million shares of the conglomerate's Class B Common Stock but he still controls 39 percent of voting shares
Rupert Murdoch this week sold 3 million shares of 21st Century Fox, the media conglomerate he founded and where he serves as chairman and CEO.
According to a regulatory filing, Murdoch sold 610,969 shares of the company's Class B Common Stock on Wednesday for $35.71 apiece, then another 1.88 million the next day for $36.07 apiece and another 510,689 the day after that for $36.23 apiece.
The stock closed Friday at $37.81.
Murdoch started the week with 8.25 million shares of Class B Common Stock but ended the week with 5.25 million shares, though he still controls 39 percent of voting shares by way of an additional 307 million or so Class B shares he holds in a family trust.
A source within 21st Century Fox attributed Murdoch's selling to "ongoing financial planning."