By: Meg James | Los Angeles Times
Chairman Rupert Murdoch is taking advantage of the jump in value of News Corp. stock by selling $40 million in voting shares this week. Shares closed trading Friday at all-time highs.
A News Corp. spokesman declined to provide a reason for Murdoch’s pre-Valentine’s Day sale of nearly 1.4 million Class B shares. The sale, which occurred Wednesday, was recorded Friday with the Securities and Exchange Commission.