By Kevin McCauley
A top British shareholder advisory firm is urging News Corp. investors to oppose deputy COO James Murdoch's re-election to the board of directors at the Oct. 21 meeting slated for Los Angeles.
Pension Investment Research Consultants says its opposition is based on Murdoch's alleged ties to the phone hacking scandal at the now defunct News of the World tabloid.
"In light of his close association with the phone hacking scandal we are advising shareholders to oppose James Murdoch's election," said PIRC. "We also recommend that shareholders oppose the re-election of a number of other directors due to concerns about independence."
PIRC raps News Corp.'s response to the scandal as "indecisive, characterized by arrests and resignations rather than dismissals."
The family of News Corp. CEO Rupert Murdoch controls about 40 percent of the media company's voting shares.
The company has declined comment on PIRC's recommendation.
|