News Corporation Acknowledges Breach of Foreign Ownership Rule

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By: Amy Chozick | New York Times

News Corporation said Wednesday it would suspend half of the voting rights of its non-American shareholders in order to comply with United States government regulations on foreign ownership.

The Federal Communications Act limits the ownership and voting power of foreign investors in broadcast stations to no more than 25 percent. In a breach of government rules, News Corporation’s foreign investors owned 36 percent of the company’s class B voting shares. The company’s board said it approved an immediate suspension of 50 percent of foreign shareholders’ voting rights.































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