- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc , the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Murdoch son sells News Corp stock to buy broadcaster
NEW YORK |
NEW YORK (Reuters) - One of News Corp Chief Executive Rupert Murdoch's sons sold about $27.6 million of his shares in the media company this week as his investment company purchased a large stake in an Australian radio broadcaster.
Lachlan Murdoch's private investment vehicle, Illyria, bought 50 percent of Daily Mail & General Trust's radio operations in Australia, DMG Radio Australia, the U.K. newspaper group said on Thursday.
The deal was worth about $110 million, according to media reports.
Lachlan Murdoch, who resigned from his executive position at News Corp in 2005 but is still on its board, sold about 2.3 million shares, or just over half of his News Corp common shares, for prices that ranged from $12 to $12.03 per share, according to a filing on Wednesday with the U.S. Securities and Exchange Commission.
(Reporting by Phil Wahba; Editing by John Picinich)
- Tweet this
- Share this
- Digg this