Is News Corp's Move to Cap the Murdochs' Voting Power More Than Optics? - NewsBreak

On Sept. 22, News Corp, led by executive chairman Rupert Murdoch and his son, co-chair Lachlan Murdoch, made a change to its corporate governance that it had been in place since the newspaper and publishing giant was formed when it was spun off from Fox in 2013. The board of directors capped the voting stake of the Murdoch family at 44 percent, as disclosed in a Securities and Exchange Commission filing. News Corp also authorized a $1 billion stock buyback program and terminated a shareholder rights plan, also known as a "poison pill" or defense against hostile takeovers, which had been in...