This week, Rupert sold off $28.9 million in News Corp. voting shares. And last Friday, he cashed in $40.1 million worth! I imagine 70 million dollars in 5 business days is near the maximum he's allowed to sell, as Chairman of his own sinking empire.
From 4-Traders:
News Corp. (NWS, NWSA) Chairman and Chief Executive Rupert Murdoch sold voting shares in the media company worth around $28.9 million this week, further reducing his voting stake by a fraction of a percent.
Mr. Murdoch sold a total of one million class B shares this week in two transactions, which valued the stock at $28.85 and $28.86 a share, according to a securities filing late Friday. The stock closed Wednesday at $29.03, according to financial data provider FactSet.
The sale comes after Mr. Murdoch last week sold voting shares in the company valued around $40.1 million.
http://www.4-traders.com/...
Say what you will about Rupert Murdoch, he did not become the 106th richest person on the planet by ignoring the bottom line. So what does he know is coming down the pike that the rest of his shareholders are oblivious to?