This is the voting share class of News Corporation — the same company as the more liquid class, with different influence over decisions.
The company consists of a business newspaper and information services, a book publisher and an Australian property listings platform, where most of the value sits. The platform holds a position close to a monopoly and earns high margins, while the media assets provide stability rather than growth.
The class distinction matters in practice: this one carries voting rights and determines control, but trades less often, so the spread is wider and the price can drift from the other class despite identical claims on profit. Control remains with the founding family. Risks: the Australian housing market, disputes with technology platforms and the thin liquidity of this class itself.
The series is stated in the current share scale after splits; dividends are not included in the price
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