Rupert Murdoch Pretty Much Saved His Sons in the News Corp. Shareholders’ Vote


At Friday’s annual meeting, a majority of News Corp. shareholders that aren’t named Murdoch (or their closest ally, Saudi Prince Alwaleed bin Talal Alsaud) voted against Rupert’s sons James and Lachlan, although all three family members ultimately survived. Lucky for them that only certain shares come with voting power, and of those the Murdochs own about 40 percent. The prince, who has said his confidence in the family is “unshaken completely” by the recent phone-hacking mess, owns another 7 percent. Still, the message was sent by uncertain minority shareholders, as they threatened it would be, with James, the boss of the scandal-scarred News International division, receiving a 35 percent “no” vote for reelection, while his older brother Lachlan faced a 34 percent opposition. The big guy’s negatives were much lower, at 16 percent. Presumably the patriarch isn’t mad, he’s just disappointed.

Independent News Corp. Shareholders Vote Against Murdoch Sons [Forbes]