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(Reuters) - Hedge fund Starboard Value confirmed on Monday it had filed a shareholder resolution to eliminate the dual-class share structure that allows Rupert Murdoch to control News Corp, the publisher of the Wall Street Journal.
Starboard announced its move only days after Reuters exclusively reported that it had filed the proposal to abolish the stock structure, which gives Murdoch 40% of News Corp's voting stock despite owning an equity stake of about 14%.
"This is clearly not the appropr...
>>> Read more: Starboard proposes that News Corp eliminates dual-class shares
Starboard announced its move only days after Reuters exclusively reported that it had filed the proposal to abolish the stock structure, which gives Murdoch 40% of News Corp's voting stock despite owning an equity stake of about 14%.
"This is clearly not the appropr...
>>> Read more: Starboard proposes that News Corp eliminates dual-class shares
