09:14 AM EDT, 09/09/2024 (MT Newswires) -- News Corp's ( NWSA ) dual-class share structure "provides outsized influence to the Murdoch family," activist investor Starboard Value said in an open shareholder letter Monday as it called for the abolition of the stock structure.

Starboard said it submitted a non-binding proposal to remove the dual-class share structure at News Corp's ( NWSA ) annual shareholder meeting.

The proposal is a challenge to News Corp ( NWSA ) founder Rupert Murdoch, whose family owns an economic interest of 14% but controls 41% of the shareholder vote because of dual-class shares, the letter stated.

News Corp ( NWSA ) did not immediately respond to MT Newswires' request for comment.

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