News Corp. Investors Reject Proposal to Scrap Dual Class Share Structure [Yahoo! Finance]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
investors.newscorp.com/investor-relations
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Source: Yahoo! Finance
Following the media company's 2024 annual meeting of shareholders, News Corp. said the non-binding proposal to adopt a recapitalization plan that would eliminate a dual-class share structure was “convincingly” defeated. The final voting results were unavailable from News Corp., but will be reported in an SEC 8-K filing to be made public. More from The Hollywood Reporter Donald Trump Says He'll Ask Rupert Murdoch to Direct Fox News to Halt Negative Ads Against Him Rupert Murdoch's Succession Battle for Control of Fox News Begins in Nevada Murdoch Family Succession Battle to Remain Behind Closed Doors The proposal's defeat beats back a major challenge to Rupert Murdoch's transition of power at News Corp. to his son Lachlan Murdoch. In September, hedge fund Starboard Value called on the company to eliminate its dual-class share structure and referenced a brewing Murdoch family standoff. Earlier, the elder Rupert Murdoch, 93, stepped aside as chairman from the companies he bu
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