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Comcast's 'Supershares' Give Power Edge to CEO.
Knight Ridder/Tribune Business News, April, 2004
By Harry Wessel, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Apr. 18--Disney stockholders made history last month at the company's annual shareholder meeting. They employed their proxy voting rights in unprecedented numbers -- one vote for each share they own -- to voice their displeasure with Michael Eisner and other board members.
Comcast Corp., which has made a public bid to buy Disney, holds its annual shareholder meeting next month. But if Comcast shareholders have any axes to grind, they won't find much help through the proxy. Company bylaws sharply curtail their voting rights.
"It's ironic that Disney, criticized for its [corporate] governance practices, is being sought by a company with far worse governance...
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