Starboard Pushes to End News Corp.’s Dual-Class Structure
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Starboard Value LP is pushing News Corp. to eliminate its dual-class share structure and is prepared to take further action against the media company if it refuses to engage.
In a letter to its fellow investors on Monday, Starboard co-founder Jeffrey Smith wrote that the activist has submitted a non-binding proposal to collapse the dual-share structure, through which the Murdoch family controls of about 41% of the vote at News Corp.