Starboard moves to collapse News Corp's dual class stock in challenge to Rupert Murdoch
Publishing timestamp: 2024-09-06 16:08:43
Summary
Starboard Value has filed an advisory shareholder resolution to dissolve News Corp's dual-class share structure, challenging the Murdoch family's control. This comes after a push last year for News Corp to spin out its real estate businesses. The Murdoch family is currently in a legal battle over the fate of their 14% stake in News Corp. Starboard owns roughly 2% of News Corp's Class shares and has previously pushed for changes within the company.
Sentiment: MIXED
Keywords: rea group ltd, lachlan murdoch, rupert murdoch, breaking news: markets, breaking news: business, business news, news corp,