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Glass Lewis urges News Corp investors to back plan to collapse dual-class voting structure
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Glass Lewis urges News Corp investors to back plan to collapse dual-class voting structure
Nov 5, 2024 6:45 AM

NEW YORK, Nov 5 (Reuters) - Proxy advisory firm Glass

Lewis on Tuesday urged News Corp ( NWSA ) investors to back a

plan to end the company's dual-class voting structure, lending

additional support to an activist hedge fund's push for the

change.

The recommendation comes just days after rival U.S. proxy

advisory firm Institutional Shareholder Services last week threw

its weight behind the shareholder proposal made by activist

investor Starboard Value. Australian governance advisory firm

Ownership Matters also recommended that investors vote for the

Starboard proposal.

"Allowing one vote per share generally operates as a

safeguard for common shareholders," Glass Lewis wrote in its

report, which was seen by Reuters.

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