Media News - Friday, July 20, 2012
Pressure on Rupert Murdoch to resign
Major shareholders will renew their push for media mogul Rupert Murdoch to resign as News Corp chairman at the company's annual meeting later this year. Eighteen major shareholders have now signed a letter calling for Murdoch to step down from the company he has spent 60 years creating. News Corp has been rocked by revelations of widespread phone hacking at its UK newspaper subsidiary. Earlier this year a UK parliamentary committee said Murdoch was "not a fit person" to run an international business. The campaign has been organised by Christian Brothers Investment Services (CBIS) and members of the Local Authority Pension Fund Forum (LAPFF). CBIS organised a similar protest at last year's annual general meeting. Murdoch received the support of 86% of voting shareholders but the majority of independent votes went against key board members including his sons Lachlan and James, who ran the UK newspaper business. (The Guardian)
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