Activist investor Starboard Value has filed a non-binding proposal to eliminate the dual-class share structure at News Corp, which currently allows Rupert Murdoch to maintain significant control over the company despite owning only 14% of its equity. This structure gives the Murdoch family around 40% of the voting power, raising concerns about governance and family dynamics during the transition of control to his heirs. Starboard, which holds a 1.9% stake in News Corp, has noted strong support from shareholders for previous attempts to declassify shares, with 90% backing from unaffiliated shareholders. The hedge fund argues that the current dual-class system contributes to undervaluation and could hamper strategic decisions. Additionally, there are indications that the Murdoch family may attempt to block the resolution at the upcoming shareholder meeting. The outcome of this proposal could have significant implications for the governance and future direction of News Corp.