Rupert Murdoch has long been a key figure in shaping political landscapes, with his influence extending to interactions with leaders across the Western world, including presidents, premiers, and prime ministers. As the United States gears up for a pivotal election, Murdoch's media empire, particularly Fox News, is seen as a significant player in influencing public opinion. Fox News has been known for its vocal support of the Republican Party and, in the aftermath of the 2020 election, faced legal repercussions for perpetuating falsehoods about election fraud, resulting in a substantial settlement with Dominion Voting Systems.
In addition to his political influence, Murdoch is embroiled in a significant corporate battle concerning the governance structure of his media companies. The Murdoch family's majority control over News and Fox, despite owning only 14% of the company, is the focal point of contention with investors. The dual-class share system, which grants the Murdochs 41% control, has been criticized by a majority of investors who view it as rigged and undemocratic, sparking a conflict that parallels the national political battles.
Shareholders, including major institutional investors and proxy advisers, are advocating for a change to the voting structure to allow for fairer representation through a one share, one vote system. Despite previous attempts by investors to challenge the Murdochs' control, the family has managed to maintain its grip on power, with upcoming proxy votes likely to result in another narrow victory for the Murdochs. While speculation swirls around potential stakeholders like the Saudi royal family and their ties to the Murdoch empire, the battle for corporate democracy within the media conglomerate continues to unfold amidst growing dissent from investors seeking a more equitable voting system.