November 21, 2012 / 11:30 PM / in 5 years

Rupert Murdoch sheds some News Corp shares

Nov 21 (Reuters) - News Corp Chairman and CEO Rupert Murdoch sold about $10 million of the company’s Class A shares on Nov. 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.

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