JRTinMA said:You may want to brush up on Common vs Preferred stock and what a holding company does.
I am professionally conversant with corporation structures.
The salient facts are that Rupert Murdoch does not "own" News Corporation and neither is there a holding company in place controlled by any person to hold controlling voting or non voting stock in News Corporation.
Murdoch personally owns about 1.3% of the voting stock but holds a proxy from the Murdoch Family Trust which permits him to exercise voting rights amounting to 40% of the total voting stock.
The beneficiaries of the Murdoch Family Trust are his children. Murdoch holds no beneficial interest in the stock held by the Murdoch Family Trust and this was a requirement in Australia under media ownership law when Murdoch took up US citizenship.
Here's what the proxy statement has to say about all this:
"Cruden Financial Services LLC, a Delaware limited liability company ("Cruden Financial Services"), the corporate trustee of the Murdoch Family Trust, has the power to vote and to dispose or direct the vote and disposition of the reported Class B Common Stock. In addition, Cruden Financial Services has the power to exercise the limited vote and to dispose or direct the limited vote and disposition of the reported Class A Common Stock. As a result of Mr. K.R. Murdoch's ability to appoint certain members of the board of directors of Cruden Financial Services, Mr. K.R. Murdoch may be deemed to be a beneficial owner of the shares beneficially owned by the Murdoch Family Trust. Mr. K.R. Murdoch, however, disclaims any beneficial ownership of such shares."