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News Corporation shareholders vetoed the proposal to cancel weighted voting right stocks.
On November 21st, according to the announcement from the news group controlled by media tycoon Murdoch, the proposal put forward by the activist investment company Starboard Value to cancel the weighted voting right structure was rejected by the shareholders. The non-binding proposal did not receive enough shareholder support. It is reported that the Murdoch family trust holds over 40% of the voting rights of the news group. Starboard Value's proposal received support from shareholder proxies and some investors.