The stock price of News Corporation has slipped after preferred shares linked to its purchase of US satellite operator DirecTV hit the market.
The Murdoch empire is buying a 34% controlling stake in DirecTV's parent, Hughes Electronics, from General Motors. As part of the deal, it has issued shares to GM, and a large portion of this stock has now been sold on to investors in the US and Australia.
As a result, NewsCorp's shares in New York dropped 1.45% on Tuesday to close on $36.80 (€29.09; £20.06). In Australia, ordinary shares fell by A$0.18c to A$11.86, while preferred stock slipped A$0.19c to A$10.04.
Data sourced from: Sydney Morning Herald; additional content by WARC staff