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Fox shareholders reject proposal to abandon dual-class shares

Posted by: Admin | Posted on: November 15th, 2017 | 0 Comments

(Reuters) – A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure was rejected on Wednesday, based on preliminary results announced at the media company’s annual meeting.

Shareholders also voted to re-elect Fox’s board of directors, preliminary results indicated, a sign that investors continue to support founder Rupert Murdoch and his family, who effectively control the company.

Reporting By Jessica Toonkel; Editing by Bill Rigby

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