Starboard wants a vote at the annual meeting to merge the two classes of stock.
If they cant agree on strategy, that creates confusion and risk.
News Corp. and Fox both run on a June fiscal year.
From left: James Murdoch, Elisabeth Murdoch, Rupert Murdoch and Lachlan Murdoch.Getty
We have great respect for News Corp and the evolution of the business since its formation in 2013.
However, News Corp could not be further from this archetype.
If the Board refuses to listen, we can then take further action.
Previous proposals to eliminate the dual-class structure were soundly supported by shareholders unaffiliated with the Murdoch family.
Despite this clear message from unaffiliated shareholders, the Board failed to take action.
The situation has become even more important in light of recent reporting on Murdoch family dynamics.
We will be filing a proxy statement in the coming weeks with more details on the proposal.
We look forward to continuing to engage with our fellow shareholders.
