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Southeastern builds stake in News Corp.

Adam Jeffery | CNBC

Southeastern Asset Management disclosed in a regulatory filing on Tuesday that it has a stake of nearly 12 percent in Rupert Murdoch's News Corp.

The money management firm said in a filing with the Securities and Exchange Commission that it holds 23,767,700 shares, which is worth about $393 million based on News Corp.'s closing share price of $16.55 on Tuesday.

Following the report, News Corp. shares rose in pre-market trade on Wednesday. (Click here to track the company's stock price.)

(Read more: News Corp. earnings beat, boosted by cable strength)

Southeastern held a 1 percent stake in News Corp. at the end of June, according to Thomson Reuters data.

News Corp., which owns newspapers, including The Wall Street Journal, book publisher HarperCollins, pay-TV assets in Australia and the education company Amplify, recently separated from its entertainment division.

(Read more: Icahn hoists white flag, won't block Dell deal)

Twenty-First Century Fox now operates the film studio and cable and TV properties like Fox News and the broadcast network Fox.

Southeastern and Carl Icahn were involved in a protracted effort that ended on Monday to block Michael Dell's $25 billion offer to take his namesake company private.

—Reuters with CNBC.com

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