Starboard Says Dual-Class Structure Hurts News Corp's Valuation, Calls For Elimination

News Corporation (NASDAQ:NWS) disclosed that its largest shareholder, Starboard Value LP, believes dual-class share structures are not in the best interests of shareholders and do not reflect best-in-class corporate governance practices.

Starboard stated that extending super-voting rights to a founder’s heirs is unjustifiable. News Corp’s dual-class share structure, which transfers voting power from a founder to their children, exemplifies its worst aspects.

The Murdoch siblings’ differing views could hinder strategic direction, and it’s unclear ...