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Market Chatter: Activist Investor Starboard Challenges Murdoch's News Corp Control
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Market Chatter: Activist Investor Starboard Challenges Murdoch's News Corp Control
Sep 9, 2024 7:12 AM

07:17 AM EDT, 09/09/2024 (MT Newswires) -- Activist investor Starboard Value privately filed a shareholder resolution to abolish News Corp's ( NWSA ) dual-class stock structure that gives Rupert Murdoch a 40% voting stock despite owning only 14% in equity, Reuters reported Friday, citing people familiar with the matter.

The resolution is non-binding on News Corp ( NWSA ), Reuters said, but a shareholder proposal with strong support might impact a company's reputation if ignored.

Neither Starboard nor News Corp ( NWSA ) immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 28.46, Change: +0.81, Percent Change: +2.93

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