Glass Lewis Supports Ending News Corp's Dual-Class Voting Structure

NEW YORK (Reuters) – Proxy advisory firm Glass Lewis urged News Corp investors to support a proposal to end the company's dual-class voting structure, reinforcing an activist hedge fund's initiative.

This recommendation follows support from rival U.S. proxy advisory firm Institutional Shareholder Services for the proposal brought forth by activist investor Starboard Value, which has also been endorsed by Australian governance advisory firm Ownership Matters.

"Allowing one vote per share generally operates as a safeguard for common shareholders," Glass Lewis stated in its report, which was seen by Reuters.