Cybersecurity
Murdoch's Control of Fox Targeted by Investor in Proxy Filing
- Scandals led group to propose curtailing family voting rights
- Nathan Cummings Foundation wants to eliminate stock classes
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Rupert Murdoch’s control over media conglomerate 21st Century Fox Inc. faces a renewed challenge from a shareholder who cites scandals at the mogul’s companies.
Fox recommends shareholders oppose the proposal by the Nathan Cummings Foundation, which held 947 voting shares, to eliminate the dual-class stock structure that gives Murdoch control, according to a regulatory filing Thursday. Investors will decide on the nonbinding measure at the annual meeting scheduled for Nov. 15 in Los Angeles.