Rupert Murdoch at his annual party at Spencer House, St James' Place in London. Activist investor Starboard Value moved Friday to dissolve News Corp's dual-class share structure, a challenge to the Murdoch family's control over the Wall Street Journal parent, according to people familiar with the matter. News Corp's structure as of September gave Rupert Murdoch control over around 40% of the company's voting stock. Last November, Rupert Murdoch, 93, stepped down as chair of the board at both News Corp and Fox Corp. His son, Lachlan Murdoch, is the sole chair of News Corp., and continued his role as Fox Corp.'s executive chair and CEO.

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Persons: Rupert Murdoch, St James, Murdoch, Jeff Smith, Smith, Lachlan Murdoch Organizations: Spencer, Wall Street Journal, News Corp, CNBC, REA Group of Australia, New York Times, Wall Street, Fox Corp, Reuters, Autodesk, Match, . News Corp, Sun, HarperCollins Locations: London