Another Investor Joins the ‘Dump Murdoch’ Chorus


In the lead-up to next Friday’s News Corp. stockholders’ meeting, several major investors have begun voicing the once-unthinkable: Let’s take control of the company away from Rupert Murdoch and his clan. Today, the California State Teachers’ Retirement System, which apparently owns between 4 and 6 million non-voting News Corp. shares, joined in. While unclear whether this group has the collective power to actually oust Murdoch or his representatives from the board — consider that CalSTRS owns just two-tenths of one percent of News Corp.’s total shares — few could have imagined a few months ago the media mogul looking this vulnerable. [Reuters]