More on Southeastern's stake in News Corp

|About: News Corporation (NWS)|By:, SA News Editor

Southeastern  Asset Management bought 11.9% of News Corp's (NWS, NWSA) voting rights, representing a 4.1% economic interest. Based on yesterday's closing price of $16.72, the stake is worth around $397M.

The investment firm has the second-largest holding behind Rupert Murdoch, who owns 39% of News Corp.'s voting stock, or a 14% economic interest.

Southeastern said it has no plans to influence News Corp. and is known for value investing. However, it's worth noting that Southeastern joined with Carl Icahn to oppose Michael Dell's buyout of Dell, and in a shareholder revolt at Chesapeake Energy. (Previous)

This was corrected on 09/11/2013 at 06:04 AM. The headline incorrectly stated "More on Southeastern's stake in Dell."