News Corp’s second biggest shareholder, Prince Alwaleed bin Talal, has dismissed calls for a change to the company’s dual-class share structure, reported the Financial Times.
“Investors went into News Corp knowing the class A and B share structure. No one can cry wolf now,” Alwaleed told the FT.
News Corp has a two-class share structure, whereby B-class shares have voting rights and A-class no voting rights. Currently, the Murdoch family control nearly 40% of the voting shares and around 12% of the non-voting shares.