Cooper-Hohn Buys $833.5 Million Stake in News Corp. Amid Hacking Scandal
Stock Chart for News Corp (NWSA)
Children’s Investment Fund Management UK LLP, the hedge fund run by Christopher Cooper- Hohn, bought a $833.5 million stake in News Corp. (NWSA), Rupert Murdoch’s media firm that’s engulfed in a phone-hacking scandal.
The London-based fund owned 53.8 million shares of the New York-based company as of Sept. 30, its biggest U.S.-listed equity holding, according to a filing today with the U.S. Securities and Exchange Commission.
News Corp. closed its News of the World tabloid following the July revelation that the newspaper had intercepted the voicemail of a murdered U.K. schoolgirl, and also withdrew a bid to take full control of British Sky Broadcasting Group Plc. (BSY) At least 17 people have been arrested by police investigating hacking and bribing police officers at News Corp.’s U.K. papers, some on the basis of evidence supplied by the company.
TCI, which Cooper-Hohn started in 2003, earmarks a portion of its fees for the Children’s Investment Fund Foundation, a charity run by Cooper-Hohn’s wife, Jamie.
Calls to TCI after regular business hours weren’t answered.
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