Original article by Anthony Macdonald
The Australian Financial Review – Page: 28 : 20-Nov-24

News Corporation will shortly hold its AGM in New York, where shareholders will vote on a proposal to abolish the media group’s dual-share structure. The existing share structure means that the Murdoch family controls 41 per cent of News Corp’s voting shares but just 14 per cent of the company’s stock overall. The push for a single class of shares is being led by hedge fund Starboard Value, but Perpetual’s head of equities Vince Pezzullo says the Australian fund manager will support the status quo at the AGM. Pezzullo says the Murdochs and News Corp’s management have made a number of strategic decisions over the last decade that have paid off, including the sale of 21st Century Fox’s entertainment assets at the peak of the market.

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