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Fox shareholders reject proposal to abandon dual-class shares
November 15, 2017 / 6:55 PM / a month ago

Fox shareholders reject proposal to abandon dual-class shares

(Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure was rejected on Wednesday, based on preliminary results announced at the media company’s annual meeting.

FILE PHOTO: The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. November 6, 2017. REUTERS/Lucy Nicholson /File Photo

Shareholders also voted to re-elect Fox’s board of directors, preliminary results indicated, a sign that investors continue to support founder Rupert Murdoch and his family, who effectively control the company.

Reporting By Jessica Toonkel; Editing by Bill Rigby

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