Oct 12, 2017

Sky chairman James Murdoch holds on despite shareholder protest

James Murdoch has suffered a revolt at Sky after almost half of the UK media company's independent shareholders voted against his re-election as chairman. Although Mr Murdoch was reappointed by a majority of investors at the company's annual meeting on Thursday, this included the 39 per cent interest controlled by 21st Century Fox, the Murdoch family-owned US media group where he is chief executive. A majority of independent directors also voted against the company's non-binding remuneration report. The strong protest vote came in the wake of Fox's controversial £11.7bn bid for full control of Sky, a deal that has come up against political opposition in the UK. But Mr Murdoch's reappointment received more support from independent shareholders this year compared to 2016 - at 49 per cent compared to 51 per cent - a move the company welcomed as it attempts to push through the Fox deal.

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