Murdoch Acquires 1.2 Million Shares of News Corp.

Rupert Murdoch acquired 1.2 million Class A shares of News Corp stock this week, his first purchase of stock since 2006. The average price of a share was $16.81, meaning he just bought about $20 million worth of shares in the media giant.

Murdoch’s purchase means he must be feeling pretty confident in News Corp and it’s ability to flourish, despite massive changes in the way people consume media.