Hedge fund Starboard proposes abolishing News Corp's dual-class share structure, challenging Rupert Murdoch's control.

Hedge fund Starboard Value has submitted a shareholder resolution to abolish News Corp's dual-class share structure, which grants Rupert Murdoch significant control over the company, including the Wall Street Journal. This move comes amid a legal dispute within the Murdoch family regarding succession plans for control of News Corp and Fox Corp. Although the resolution is advisory and not binding, it marks the first challenge to Murdoch's authority since he stepped down as board chair last year.

September 06, 2024
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