Starboard proposal could end Murdoch’s control of News Corp., NYT reports

Starboard Value’s nonbinding proposal could end the Murdoch’s control of News Corp, according to a letter to fellow shareholders first obtained by DealBook, Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner,Sarah Kessler, Michael J. de la Merced, Lauren Hirsch, and Ephrat Livni report. The Murdochs’ shares are held in a family trust that Rupert Murdoch controls, and control will pass to his four eldest children after he dies, but three of them are fighting their father in court over a move to give his son Lachlan majority control of the trust when Rupert Murdoch dies. Dual class shares should not be hereditary, Starboard argues.