Hedge Fund Pushes for End of Murdochs’ Control at News Corp

Published On Sep 9, 2024, 8:38 AM

Starboard Value, a shareholder activist fund, is proposing to change News Corp's dual-class share structure, which allows the Murdoch family to maintain control over the company despite owning only a minority of its economic shares. This proposal comes as internal family disputes over succession arise, which Starboard argues could hinder the strategic direction of the media firm. The Murdoch family currently controls 41% of the voting power at News Corp through special shares, raising concerns over governance and stability going forward as Rupert Murdoch nears the end of his life.

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The proposal by Starboard Value to eliminate dual-class shares could lead to significant governance changes at News Corp, potentially increasing market confidence in the company. However, the ongoing family disputes may create instability in the short term, affecting investor sentiment negatively.

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