News Corp shareholders' bid to oust Rupert Murdoch

      Shareholders in News Corporation have stepped up their campaign to oust media tycoon Rupert Murdoch as chairman of the company ahead of its annual general meeting later this month.

Hermes, a British fund manager that controls 24.8 billion pounds assets, joined an action launched by dissident shareholders seeking to remove Murdoch from his post in the firm in the wake of the phone-hacking scandal. Another one of the largest shareholder advisory groups, Glass Lewis, also recommended its clients vote for the appointment of an independent chair, the Guardian reports. According to the paper, this is the second year that major shareholders have rounded on Murdoch and his board.

The resolution was co-filed by Christian Brothers Investment Services (CBIS) and members of the Local Authority Pension Fund Forum (LAPFF). It will be voted on at the company's annual meeting in Los Angeles on October16.

A similar vote last year failed to pass as Murdoch and his family, who own about 12 percent of the media giant, control 40 percent of the vote because of News Corp's dual class share structure. According to the paper, last year, the majority of independent voters voted against much of News Corp's board including Murdoch's sons Lachlan and James.

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