News Corp. Curtails Voting Rights of Non-U.S. Shareholders
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News Corp., owner of Fox Broadcasting, reduced the voting power of non-U.S. shareholders to comply with the country’s law governing broadcast station licenses.
The company suspended the voting rights of 50 percent of the Class B shares held by investors who aren’t U.S. citizens, according to a statement today. The change will last “as long as the company deems it necessary to maintain compliance with U.S. law,” News Corp. said.