Activist investor Starboard Value had challenged ownership structure, as Murdoch family controls 41% of company votes

Lachlan Murdoch faced down a shareholder vote on Wednesday aimed at weakening the Murdoch family’s control over their media empire.

Activist investor Starboard Value had challenged the ownership structure of News Corp, the parent company of dozens of news outlets globally including the Wall Street Journal and publisher HarperCollins in the US, and the Times and the Sun in the UK.