Southeastern Asset Takes 12 Percent Stake in News Corp.
Posted: 9/11/2013 | By: Andy Fixmer | Bloomberg
Southeastern Asset Management Inc. (NWS),
the investment firm that joined Carl Icahn in opposing Dell
Inc. (DELL)’s buyout, acquired a 12 percent voting stake in News Corp.,
the largest holding behind Chairman Rupert Murdoch.
The 23.8 million-share Class B stake, disclosed in a
regulatory filing yesterday, is valued at about $397 million,
based on a closing price of $16.72. The investment accounts for
about a 4.1 percent economic interest in New York-based News
Corp., the publishing business split off in June from Murdoch’s
film and television division.