News Corp. Extends ‘Poison Pill’ Provision
From Reuters
News Corp. shareholders approved the extension of a “poison pill” provision, easing pressure on Chief Executive Rupert Murdoch to complete a buyback or swap for Liberty Media Corp.’s stake.
More than 57% of eligible News Corp. shareholders voted to extend the provision, which makes hostile takeovers prohibitively expensive, to October 2008 from November 2007.
The vote comes as Murdoch continues talks to swap or buy back Liberty Media’s stake in his publishing and media empire.
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