Murdoch Family Maintains Control of News Corp After Shareholder Vote

A proposal to end News Corp's dual-class share structure, which heavily favors Murdoch family control, was defeated at the annual shareholder meeting.

• Activist investor Starboard Value pushed to eliminate News Corp's dual-class share structure, arguing it grants disproportionate control to the Murdoch family despite their minority economic stake.
• The proposal was defeated due to the Murdoch Family Trust's 41% voting power, which effectively ensures their continued dominance over the company.
• The vote reflects ongoing concerns among some investors about governance and the lack of alignment between voting power and economic ownership at News Corp.
• Rupert Murdoch, 93, is involved in a legal battle with three of his children over control of the family trust, which he seeks to pass solely to his eldest son, Lachlan Murdoch.
• News Corp defended the dual-class structure, stating it provides stability and has contributed to the company's strategic and financial successes, including a 45% stock price increase over the past year.

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