Feb 1, 2013

Big investors target News Corp, backing Rupert’s rule

If the financial details of News Corp's broadcast arm are encouraging, other shareholders will follow massive fund manager Blackrock by investing in the Murdoch behemoth.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

Rupert Murdoch and his family are back in the good books of big fund managers: their domination of News Corp has been blessed by the world’s biggest investor in Blackrock.

In intriguing changes to the News Corp share register ahead of the proposed split in the company, Blackrock has this week revealed the massive purchase of more than $US2 billion worth of shares. And in an apparently unrelated move, long-time holder and Murdoch supporter, Saudi prince Alwaleed bin Talal, has revealed he now has the power to dispose of 20% of his stake of 56.23 million B class voting shares.

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