Deals
Southeastern Buys Second-Largest Voting Stake in News Corp.
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Southeastern Asset Management Inc., the investment firm that joined Carl Icahn in opposing Dell Inc.’s buyout, acquired a 12 percent voting stake in News Corp., making it the largest shareholder after Chairman Rupert Murdoch.
The 23.8 million-share Class B stake, disclosed in a regulatory filing yesterday, is valued at about $397 million, based on a closing price of $16.72. The investment accounts for about a 4.1 percent economic interest in New York-based News Corp., the publishing business split off in June from Murdoch’s film and television division.