Starboard Value has built a stake in News Corp. and the activist shareholder plans to push for strategic and governance changes at the Wall Street Journal parent, The Wall Street Journal’s Lauren Thomas reports. Starboard believes News Corp., one of the two arms of Rupert Murdoch’s media empire, trades at a significant discount to its fair market value due to its conglomerate structure, according to people familiar with the matter. Starboard plans to recommend News Corp. spin off its digital-real-estate division.
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