Murdoch Sells $360 Million in News Corp. Shares

Posted Friday, November 16, 2007 12:00 am

By: E&P Staff The Financial Times is reporting that Rupert Murdoch sold more than $360 million worth of News Corp shares.

The pay-out follows a $600 million bonanza received by Murdoch's six children in February - at the time the biggest distribution of Murdoch's fortune.

Proceeds from the sale of 17.5 milllion class A shares are expected to be equally split among the children. Some could go to Mr Murdoch himself.

Lachlan Murdoch, Mr Murdoch's eldest son, is on the News Corp board. Mr Murdoch has three other adult children - Prudence, James and Elisabeth - and two young daughters, Chloe and Grace, by his wife Wendi.

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Murdoch Sells $360 Million in News Corp. Shares

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