@zeljkazorz @shadowserver it is a big rev op and constant/unremitting for prepared small security companies #corp gov

(3/3)

As the Murdoch #succession battle plays out in a US court,
a separate fight is brewing over control of #News #Corp

Australian and US investment groups take aim at #dual #voting #rights system that
gives family a dominant voice over how empire is run

Australian pension funds and governance groups have criticised the share voting powers that allow Rupert Murdoch to control News Corp,
-- as a secret legal case over the future control of the company is heard in the US state of Nevada.

The push to untangle News Corp’s structure,
which allocates different voting rights according to share type,
️is being driven by agitators trying to loosen the billionaire’s grip over the media empire
and stop that influence being passed to his heirs.

Murdoch has been in Nevada for hearings this week,
after seeking to change the terms of a family trust to ensure that his eldest son,
Lachlan, remains in charge of the company’s stack of newspapers and television networks, including the Wall Street Journal and Fox News.

The proceedings prompted the US hedge fund Starboard Value to propose a resolution to eliminate News Corp’s dual class share structure,
-- arguing that the political disagreement in the family
“could be paralyzing to the strategic direction” of News Corp,
according to The New York Times.

Dual structures are commonly used by company founders to retain control of a business even when they have a minority shareholding,
with Murdoch holding 40% of voting rights via a 14% shareholding.

Debby Blakey, the chief executive of the A$86bn Hesta superannuation fund, told Guardian Australia that
“one share, one vote” was fundamental to good corporate governance.

She said the fund’s “engagement, voting and advocacy activities continue to reflect this belief”.

“Hesta remains committed to engaging with companies and using our shareholder votes to drive change that helps create long-term investment value for our members,” Blakey told Guardian Australia.

The Australian Council of Superannuation Investors said it also supported a “one share, one vote” capital structure.

“Voting is a fundamental shareholder right and one of the key ways for shareholders to ensure accountability at listed companies,” ACSI said.

@cmconseils they probably won't - don't have faith would be my advice as sordid as it sounds, and it is but take solace in the fact that both parties are absolute hellscapes - the left isn't really all that much better than the right and they already shifted so much to the right they may as well be considered right wing minor; lastly it really isn't fair representation to have bunch of elderly millionaires making all the decisions - you won't get anything good out of that but just blame all the money in politics: that is what you get and reforms are not coming down the pike either. Politics is a no win situation - that is a true and honest accounting of the current paradigm #entrenched special interests #corp = gov

@richlv Hahah "ladybird" to "businesswoman" so easy for Google to translate wrong!
Just tried to imagine what that Google-Creature looks like

In my #languages it's the same! The bigger the #text sample, the more mistakes.
Maybe they don't want us to understand each other at evil #Google #corp?

@hello
Awesome, it's not easy as a new user to understand all the terminology frequently used here and the huge concept behind it all.
I hope this guide and the mentioned implementation into the #fediverse make it easier move people from #threads aka the #supervillain #facebook #meta #corp to #mastodon

A note: #Bigcorp #SocialMedia services ARE talking to each other: About you, Your information and you don't even know it

simply, this is an example of how we treat people accused of a crime being determined by a corporate instead we the people.

No thought to the effect on people or their family, the only concern is to maximize profit to the #corp and concentrate wealth.