News Corp sells its entire stake in ARN
Michael Stephenson, ARN's new boss, delivering the new message at the company's upfront in October
News Corp offloaded its entire 13% stake in ARN Media after trading closed on Wednesday night, selling 40.8m shares at 44c each.
In a statement published in The Australian, a News Corp Australia spokesperson simply said: “Our divestment in ARN continues our focus on our core consumer businesses and our digital client products”.
The sale is worth around $18m.
