Hedge fund Starboard Value, known as an activist investor, wants to get tear down News Corp's two tier share system which gives Rupert Murdoch's family control of News Corp.
The family has have about 40% of shareholder votes in the company, through a system of A and B shares, despite owning about 14% of the equity.
Reuters, quoting sources, reported Starboard has given notice of a resolution to be put to shareholders at the next annual general meeting, due in November.
Even if the proposal got the required shareholder votes, News Corp doesn't have to implement a change.
The hedge fund owns 7.2 million Class A shares or about to a 1.9% of News Corp.
News Corp last month reported what it described as “outstanding” full year results, with revenue up 2% to $US10.09 billion.
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