Deals
News Corp. Non-Murdoch Holders Seek End of Dual-Class Shares
Rupert Murdoch at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, in 2018
Photographer: David Paul Morris/BloombergNews Corp. investors sent a message to the family that controls the parent of the Wall Street Journal, NY Post and other media businesses: They’d like the Murdochs to give them more of a say.
A nonbinding proposal from Starboard Value to end the company’s dual class of shares got about 60 million votes of support, according to a News Corp. filing Thursday. More than 111 million shares were voted to keep the dual-class structure, but that includes 77.6 million shares owned by Rupert Murdoch’s family trust.