Two Calif. pension funds oppose Rupert Murdoch’s reelection
The California State Teachers' Retirement System (CalSTRS) has voted against the reelection of the entire slate of nominees to the News Corp. board, including company chairman Rupert Murdoch, the Los Angeles Times' "Company Town" blog reported. Earlier, the California Public Employees' Retirement System (CalPERS)-- the U.S.'s largest pension fund -- said it withheld its votes for Murdoch and his sons Lachlan and James, as well as other non-independent directors, the article said.
CalSTRS owns 6.1 million shares of New Corp.'s Class A common stock and 35,200 voting shares of News Corp. Class B stock. CalPERS owns 1.4 million shares of News Corp. Class B stock, according to the report. (Source: "Company Town," Los Angeles Times, Oct. 17, 2011.)
Posted Tuesday, October 18, 2011 • Permalink