News Corp Shareholders Uphold Dual-Class Structure Amid Record Profits
The Murdoch family retained majority control of News Corp after a shareholder vote aimed at reducing their influence was defeated. Despite owning only 14% of the company, the family controls 41% of the voting power through a trust managed by Rupert Murdoch. The proposal, backed by activist investor Starboard Value and other major shareholders, sought a 'one share, one vote' structure to align economic interest with voting rights. The Murdoch family's control is expected to pass to Rupert's children, with ongoing legal disputes over succession.