Backing for News Corp rebels' motions
Wednesday 10 October 2012
The shareholder advisory group Pirc has come out in support of two rebel motions which have been put forward for News Corporation's annual meeting next week.
Pirc advised its members yesterday to support the proposal to scrap the dual-share structure which gives Rupert Murdoch and his family 40 per cent of the votes despite owning only 12.5 per cent of the shares.
It also backed the motion calling for the chairman and chief executive roles, which are both held by Mr Murdoch, to be separated.
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