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You'll love this then. From Fox Corp's proxy statement, to be presented at the upcoming annual meeting: https://www.sec.gov/Archives/edgar/data/1754301/00011931
by ethbr0 5y ago
You'll love this then. From Fox Corp's proxy statement, to be presented at the upcoming annual meeting: https://www.sec.gov/Archives/edgar/data/1754301/000119312521276133/d181730ddef14a.htm#rom181730_42 https://www.sec.gov/Archives/edgar/data/1754301/000119312521...
"PROPOSAL NO. 5: TRANSITION TO PUBLIC BENEFIT CORPORATION
Shareholders request our Board of Directors take steps necessary to amend our certificate of incorporation and, if necessary, bylaws [...] to become a public benefit corporation [...]. Shareholders request that one of the public benefits included in the amendment be provision of the Company’s viewers with an accurate understanding of current events through the exercise of journalistic integrity [...]"
I thought it was a pretty classy troll. Credit to Matt Levine for the pointer. And in all fairness, the insurgents do put a veneer of reasoning over why it would make sense:
"The vast majority of our diversified shareholders lose when companies harm the economy, because the value of diversified portfolios rises and falls with GDP. While a concentrated holder may profit when the Company inflicts costs on society by emphasizing viewership over accuracy, diversified shareholders internalize those costs."
- BoxOfRain 5y agoOne has to admire the bare-faced cheek on display here!