Murdochs agree to cap on Fox voting power

Original article by Max Mason
The Australian Financial Review – Page: 21 : 8-Nov-19

The Murdoch Family Trust has agreed to limit its voting rights in the new Fox Corporation to 44 per cent, with the cap to apply in perpetuity or until the Murdochs sell out of the company. The limit will help to facilitate $US2 billion ($2.9 billion) worth of share buybacks that Fox announced as part of its latest quarterly results. The buyback will include a mix of Class A and Class B Fox shares, with Fox’s independent directors keen to increase the liquidity of its Class B shares.

CORPORATES
MURDOCH FAMILY TRUST, FOX CORPORATION

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