As expected, CEO Rupert Murdoch survived a shareholder challenge. Vote totals have not been released, but it's not likely to be close. Murdoch and his family have stacked the deck by creating a dual-class share structure. They only own about 13 percent of the shares outstanding, but control 40 percent of the voting shares. From the LAT:
"It's time to get on the governance high road," said Stephen Mayne, an Australian shareholder who said he spent thousands of dollars to travel to Friday's meeting. Mayne, who previously worked at a Murdoch paper, said: "You should get with the program and embrace a board with more independent board members." But Murdoch was undeterred. "I'm very proud of the culture of this company," he told his critics. "Have there been mistakes made? Yes, and we are putting them right. We will stop at nothing to get to the bottom of this and make things right."