Rupert Murdoch is claiming News Corporation's first US-domiciled AGM as a significant victory over a coalition of dissident investors and corporate governance groups who've been fighting the extension of his so-called poison pill takeover defence. While Mr Murdoch prevailed at the AGM in New York yesterday, he did suffer a record protest vote and ironically needed the support of John Malone, who's the corporate stalker for whom the poison pill was prescribed, to get his way. Rupert's way saw the re-election of his preferred board members and a $100,000-a-year pay increase for each non-executive director, despite a significant slide in News Corp's share price.
I spoke to the ABC's Washington correspondent Michael Rowland just after the AGM wrapped up. Michael, the protest vote - or rather the abstention - was at least 13 per cent and if the Murdoch and Malone votes are excluded, it's more than 30 per cent - was that bigger than expected?
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