Rupert Murdoch survives calls to step down as chairman

The Nathan Cummings Foundation

 

Meg James, Los Angeles Times: October 16, 2012

At News Corporation's annual shareholder meeting, nearly two-thirds of unaffiliated shares were voted against the News Corporation Board's recommendation that Rupert Murdoch retain his vast voting power and hold onto his position as the Company's Chairman.  While the Nathan Cummings Foundation's proposal calling for the elimination of the Company's dual-class capital structure received overwhelming support from unaffiliated shareholders, the Murdoch family, which wields voting control wildly out of proportion with its actual holdings, was able to ensure the proposal's ultimate defeat.

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