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Murdoch vows tighter action over News Corp.
Knight Ridder/Tribune Business News, October, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Oct. 8--Media mogul Rupert Murdoch pledged to tighten up his News Corp empire's corporate governance to win over shareholder support for shifting his base to the US from Australia.
It will no longer be able to issue "super-voting" shares that would have diluted -other investors, nor embark on a takeover spree without prior approval.
Pension funds, including Hermes in the UK, feared that their investments would have less protection if News Corp incorporated in Delaware and had threatened to vote against the move on October 26.
The company is shifting its primary listing to New York from Sydney to tap bigger capital reserves.
UKpound preceding a numeral refers to...
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