Rupert Murdoch sheds some News Corp shares

Wed Nov 21, 2012 6:33pm EST

News Corp Chairman and CEO Rupert Murdoch listens to a question at the ''The Economics and Politics of Immigration'' Forum in Boston, Massachusetts August 14, 2012. REUTERS/Jessica Rinaldi

News Corp Chairman and CEO Rupert Murdoch listens to a question at the ''The Economics and Politics of Immigration'' Forum in Boston, Massachusetts August 14, 2012.

Credit: Reuters/Jessica Rinaldi

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(Reuters) - News Corp Chairman and CEO Rupert Murdoch sold about $10 million of the company's Class A shares on November 20, according to a regulatory filing on Wednesday.

The sale of 418,631 Class A shares represent about 5 percent of Murdoch and his family's total Class A.

Murdoch and his family control News Corp through their ownership of about 40 percent of Class B voting shares.

Shares of News Corp, home to 20th Century Fox, Fox TV stations and the Wall Street Journal, have been on a tear up almost 50 percent year over year.

The company is preparing to separate its publishing and entertainment assets next year in a move to appease shareholders who have been pressing the company to shed its troubled newspaper business.

The stock closed down 0.7 percent at $23.82 on Wednesday.

(Reporting By Jennifer Saba in New York; Editing by David Gregorio)

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