News Corporation

News Corp's REA stake alone is worth $8B of its $12B EV — separating Digital Real Estate would expose Dow Jones and surface ~50% upside to ~$33/share.

Starboard urges News Corp shareholders to vote to collapse the dual-class structure that gives the Murdoch family 41% voting power on only 14% economic ownership.

News Corp's dual-class structure entrenches a fractious Murdoch family with 14% economics but 41% of the vote; collapsing it would remove a governance discount already rejected by 90% of unaffiliated holders.