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News Corp Responds to Non-Binding Stockholder Proposal

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News Corp (NWS) has received a non-binding stockholder proposal to eliminate its dual-class capital structure at the 2024 Annual Meeting. The Board believes the current structure has promoted stability and facilitated successful strategy implementation, leading to long-term outperformance for all stockholders. Despite digital revolution challenges, News Corp has transformed its revenue and earnings base through digital reinvestment, strategic acquisitions, and cost management initiatives. The company has also secured multi-year content licensing deals with major tech platforms, creating new revenue streams and growth opportunities in the AI age. Over the past five years, News Corp's stock price has outperformed both the S&P 500 and its peer group. Stockholders are not required to take action at this time, and the company will file preliminary materials for the 2024 Annual Meeting with the SEC in due course.

News Corp (NWS) ha ricevuto una proposta non vincolante degli azionisti per eliminare la sua struttura di capitale a doppia classe durante l'Assemblea Annuale del 2024. Il Consiglio crede che l'attuale struttura abbia promosso la stabilità e facilitato l'implementazione di strategie di successo, portando a un'uscita a lungo termine per tutti gli azionisti. Nonostante le sfide della rivoluzione digitale, News Corp ha trasformato la sua base di ricavi e guadagni grazie a reinvestimenti digitali, acquisizioni strategiche e iniziative di gestione dei costi. L'azienda ha inoltre assicurato contratti di licenza per contenuti pluriennali con importanti piattaforme tecnologiche, creando nuove fonti di reddito e opportunità di crescita nell'era dell'IA. Negli ultimi cinque anni, il prezzo delle azioni di News Corp ha superato sia l'S&P 500 che il suo gruppo di pari. Gli azionisti non sono tenuti ad agire in questo momento, e l'azienda presenterà materiali preliminari per l'Assemblea Annuale del 2024 alla SEC a tempo debito.

News Corp (NWS) ha recibido una propuesta no vinculante de los accionistas para eliminar su estructura de capital de doble clase en la Reunión Anual de 2024. La Junta cree que la estructura actual ha promovido la estabilidad y facilitado la implementación exitosa de estrategias, llevando a un rendimiento a largo plazo para todos los accionistas. A pesar de los desafíos de la revolución digital, News Corp ha transformado su base de ingresos y ganancias a través de reinversiones digitales, adquisiciones estratégicas e iniciativas de gestión de costos. La compañía también ha asegurado acuerdos de licencias de contenido a varios años con plataformas tecnológicas importantes, creando nuevas fuentes de ingresos y oportunidades de crecimiento en la era de la IA. En los últimos cinco años, el precio de las acciones de News Corp ha superado tanto al S&P 500 como a su grupo de pares. Los accionistas no están obligados a tomar medidas en este momento, y la empresa presentará materiales preliminares para la Reunión Anual de 2024 ante la SEC a su debido tiempo.

뉴스 코프 (NWS)는 2024년 연례 회의에서 비구속 주주 제안을 통해 이중 클래스 자본 구조를 제거하자는 요청을 받았습니다. 이사회는 현재의 구조가 안정성을 촉진하고 성공적인 전략 이행을 용이하게 했다고 믿고 있으며, 이는 모든 주주에게 장기적인 성과로 이어졌습니다. 디지털 혁명의 도전에도 불구하고, 뉴스 코프는 디지털 재투자, 전략적 인수 및 비용 관리 이니셔티브를 통해 수익 및 이익 기반을 변모시켰습니다. 회사는 주요 기술 플랫폼과 최다 연속 콘텐츠 라이선스 계약을 체결하여 AI 시대에 새로운 수익원과 성장 기회를 창출했습니다. 지난 5년 동안, 뉴스 코프의 주가는 S&P 500과 경쟁 그룹 모두를 초과 달성했습니다. 주주들은 현재 조치를 취할 필요가 없으며, 회사는 적시에 SEC에 2024년 연례 회의에 대한 예비 자료를 제출할 것입니다.

News Corp (NWS) a reçu une proposition d'actionnaires non contraignante visant à éliminer sa structure de capital à double classe lors de l'Assemblée Générale Annuelle 2024. Le Conseil croit que la structure actuelle a favorisé la stabilité et facilité la mise en œuvre réussie des stratégies, entraînant une surperformance à long terme pour tous les actionnaires. Malgré les défis de la révolution numérique, News Corp a transformé sa base de revenus et de bénéfices par le biais de réinvestissements numériques, d'acquisitions stratégiques et d'initiatives de gestion des coûts. L'entreprise a également sécurisé des contrats de licence de contenu sur plusieurs années avec des plateformes technologiques majeures, créant de nouvelles sources de revenus et des opportunités de croissance à l'ère de l'IA. Au cours des cinq dernières années, le prix des actions de News Corp a surperformé à la fois le S&P 500 et son groupe de pairs. Les actionnaires ne sont pas tenus d'agir pour le moment, et l'entreprise présentera en temps voulu des documents préliminaires pour l'Assemblée Générale Annuelle 2024 à la SEC.

News Corp (NWS) hat einen nicht verbindlichen Aktionärsvorschlag erhalten, der die Abschaffung der dualen Kapitalstruktur auf der Jahreshauptversammlung 2024 fordert. Der Vorstand ist der Ansicht, dass die derzeitige Struktur Stabilität gefördert und die erfolgreiche Umsetzung von Strategien erleichtert hat, was zu einer langfristigen Überperformance für alle Aktionäre geführt hat. Trotz der Herausforderungen der digitalen Revolution hat News Corp seine Einnahmen- und Ertragsbasis transformiert durch digitale Reinvesitionen, strategische Akquisitionen und Kostenmanagement-Initiativen. Das Unternehmen hat auch mehrjährige Lizenzverträge für Inhalte mit großen Technologieplattformen gesichert, wodurch neue Einnahmequellen und Wachstumschancen im Zeitalter der KI geschaffen wurden. In den letzten fünf Jahren hat der Aktienkurs von News Corp sowohl den S&P 500 als auch die Vergleichsgruppe übertroffen. Aktionäre sind derzeit nicht verpflichtet, Maßnahmen zu ergreifen, und das Unternehmen wird zu gegebener Zeit vorläufige Materialien für die Jahreshauptversammlung 2024 bei der SEC einreichen.

Positive
  • Dual-class capital structure has promoted stability and facilitated successful strategy implementation
  • Transformed revenue and earnings base through digital reinvestment and strategic acquisitions
  • Secured multi-year content licensing deals with major tech platforms
  • Stock price has outperformed S&P 500 and peer group over the last five years
  • Record profitability and significant value creation for stockholders
Negative
  • None.

NEW YORK--(BUSINESS WIRE)-- News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) (the “Company”) confirmed today that a stockholder has submitted a non-binding proposal for presentation at News Corp’s 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”) to request that the Board of Directors adopt a recapitalization plan that would eliminate News Corp’s dual-class capital structure.

The Board believes that the Company’s dual-class capital structure promotes stability and has facilitated the successful implementation of News Corp’s transformational strategy and long-term outperformance for all News Corp stockholders.

The Company has thrived under the current structure and guidance of the Board and senior leadership despite major changes in consumer behavior amidst the digital revolution of the last decade. During this time, the Company has transformed its revenue and earnings base due to organic digital reinvestment, strategic acquisitions and divestments and on-going cost management initiatives that have delivered record profitability and significant value creation for stockholders. With the Board’s long-term vision and support, News Corp has struck landmark, multi-year content licensing deals with major technology platforms, creating new revenue streams and additional growth levers including a significant step to prepare the Company to prosper in the AI age. And over the last five years, News Corp’s stock price has materially outperformed both the S&P 500 and its peer group1.

News Corp stockholders are not required to take any action at this time.

News Corp expects to file preliminary materials with respect to the 2024 Annual Meeting with the Securities and Exchange Commission (the “SEC”) in due course.

About News Corp

News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The Company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at http://www.newscorp.com.

Forward-Looking Statements

This release contains forward-looking statements based on current expectations or beliefs, as well as assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The words “expect,” “estimate,” “anticipate,” “predict,” “believe,” “potential,” “should” and similar expressions and variations thereof are intended to identify forward-looking statements, which appear in a number of places in this release. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Many factors could cause actual results to differ materially from those described in these forward-looking statements. The forward-looking statements in this release speak only as of this date and we undertake no obligation (and expressly disclaim any obligation) to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT

The Company, its directors and certain of its executive officers and employees (as set forth below) may be deemed to be participants in the solicitation of proxies from stockholders in connection with the 2024 Annual Meeting. The Company plans to file a proxy statement with the SEC in connection with the solicitation of proxies for the 2024 Annual Meeting (the “2024 Proxy Statement”), together with a WHITE proxy card.

As of September 6, 2024, each of the participants set forth below beneficially owned less than 1% of the Company’s Class A and Class B Common Stock, except as otherwise indicated. The number of shares of Class A and Class B Common Stock of the Company outstanding as of September 6, 2024 was 379,530,597 and 190,083,399, respectively. Information about the compensation of our named executive officers and our non-employee directors is set forth in the sections entitled “Compensation Discussion and Analysis,” “Executive Compensation” and “Director Compensation” of the Company’s proxy statement on Schedule 14A filed on October 4, 2023 beginning on pages 32, 50 and 23, respectively. To the extent holdings of the Company’s securities by our directors and executive officers changes from the information included in this communication, such information will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are available free of charge as described below. Additional information regarding such participants and their direct or indirect interests, by security holdings or otherwise, will be set forth in the 2024 Proxy Statement and other materials to be filed with the SEC in connection with the 2024 Annual Meeting.

STOCKHOLDERS ARE URGED TO READ THE 2024 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be able to obtain, free of charge, copies of the 2024 Proxy Statement, any amendments or supplements thereto and any other documents (including the proxy card) when filed by the Company with the SEC in connection with the 2024 Annual Meeting at the SEC’s website (http://www.sec.gov). Copies of the 2024 Proxy Statement, any amendments or supplements thereto and any other documents (including the proxy card) when filed by the Company with the SEC in connection with the 2024 Annual Meeting will also be available, free of charge, at the “Investor Relations” section of the Company’s website (https://investors.newscorp.com/).

Directors and Chairman Emeritus*

Executive Officers and Employees*

Lachlan K. Murdoch (Chair)

Robert J. Thomson (Chief Executive Officer)

Kelly Ayotte

Susan Panuccio (Chief Financial Officer)

José María Aznar

David Pitofsky (General Counsel)

Natalie Bancroft

Arthur Bochner (Chief Communications Officer)

Ana Paula Pessoa

Michael Florin (Head of Investor Relations)

Masroor Siddiqui

Michael Bunder (Corporate Secretary)

Robert J. Thomson

K. Rupert Murdoch (Chairman Emeritus)**

* The business address is 1211 Avenue of the Americas, New York, New York 10036.
** May be deemed to beneficially own 14,250 shares of Class A Common Stock and 77,665,316 shares of Class B Common Stock, which includes 14,250 shares of Class A Common Stock and 76,655,870 shares of Class B Common Stock held by the Murdoch Family Trust. Mr. K.R. Murdoch may be deemed to be a beneficial owner of the shares held by the Murdoch Family Trust. Mr. K.R. Murdoch, however, disclaims any beneficial ownership of such shares. Beneficial ownership also includes 1,009,446 shares of Class B Common Stock held by the K. Rupert Murdoch 2004 Revocable Trust of which Mr. K.R. Murdoch holds a beneficial and trustee interest.

__________________
1 As defined in the Company’s 2023 Proxy Statement

News Corp Investor Relations

Michael Florin

212-416-3363

mflorin@newscorp.com

Anthony Rudolf

212-416-3040

arudolf@newscorp.com

News Corp Corporate Communications

Arthur Bochner

646-422-9671

abochner@newscorp.com

Source: News Corp

FAQ

What is the non-binding stockholder proposal for News Corp (NWS)?

A stockholder has submitted a non-binding proposal requesting that the Board of Directors adopt a recapitalization plan to eliminate News Corp's dual-class capital structure at the 2024 Annual Meeting of Stockholders.

How has News Corp's (NWS) stock performed in recent years?

Over the last five years, News Corp's stock price has materially outperformed both the S&P 500 and its peer group, according to the company's statement.

What strategic moves has News Corp (NWS) made to adapt to the digital revolution?

News Corp has transformed its revenue and earnings base through organic digital reinvestment, strategic acquisitions and divestments, and ongoing cost management initiatives. The company has also secured multi-year content licensing deals with major technology platforms.

When is News Corp's (NWS) 2024 Annual Meeting of Stockholders?

The exact date of News Corp's 2024 Annual Meeting of Stockholders is not specified in the press release. The company states it will file preliminary materials with the SEC in due course.

News Corporation Class B

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15.61B
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40.82%
44.86%
0.48%
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