Image Image Image Image Image Image Image Image Image Image Image Image

| December 16, 2017

Scroll to top

Top

No Comments

Exclusive: Top Fox investors seek to convert voting shares, Murdoch may benefit - sources -

Rupert Murdoch, Executive Chairman News Corp and Chairman and CEO 21st Century Fox speaks at the WSJD Live conference in Laguna Beach in this file photoBy Nadia Damouni and Liana B. Baker NEW YORK (Reuters) – Several top investors in Twenty-First Century Fox Inc are pressing for the right to swap their voting shares for ordinary shares, which are trading at an unusual premium, even though the move could hand even more control of the company to Rupert Murdoch, according to people familiar with the matter. Fox's dual-class share structure already gives the 83-year-old media mogul control over 39.7 percent of voting rights, even though he and his family hold only a 12 percent equity stake. Several Fox investors, which collectively own 8 percent of voting rights, have been unhappy about the relative performance of their shares since the company delisted from the Australian stock exchange last May, the people said. Historically, the voting shares had traded at a premium.



Business News Headlines – Yahoo! News

Submit a Comment