More headaches for News Corp’s Murdoch family
Posted Oct 16, 2011 8:38 am.
This article is more than 5 years old.
Rupert Murdoch and his son, James, aren’t out of the woods yet as it concerns the News of the World phone-hacking scandal in Britain.
This coming Friday, two major public pension funds in the United States are planning a showdown with the Murdoch’s at the News Corp. annual general meeting in Los Angeles.
The California State Teachers’ Retirement System, a pension fund worth $146 billion and which owns six million shares of News Corp., wants an entirely new board of directors. The CSTRS even wants Murdoch and his son James replaced, as well as the appointment of an independent chairman of the board.
Another pension fund, the $226 billion California Public Employees Retirement System, is also pushing for change following the emergence of seedy details about the former News of the World’s so-called journalist practices earlier this year.
