A key ally of Rupert Murdoch has sold his stake in 21st Century Fox, leaving the company more vulnerable to a rebellion by shareholders unhappy at the dominance of the Murdoch family. The Murdochs control about 39% of the voting rights in Fox, giving them control of the key decisions, but own only about 17% of the shares. Fox is run by Rupert Murdoch and his sons Lachlan and James, the latter of whom is chief executive. Lachlan Murdoch, the executive co-chair of 21st Century Fox, also said the company would also not comment on any talks with Disney. The cultural crisis that has been exposed over the last 15 months at Fox News is a clear illustration of corporate control problem at 21st Century Fox.

Source: The Guardian November 08, 2017 16:15 UTC