Malone Challenges NewsCorp 'Poison Pill' Legal Settlement

17 May 2006

    NEW YORK - John C Malone, chairman of Liberty Media and 18% shareholder in News Corporation, is aiming to rain on the Murdoch family's parade.
    Clan Murdoch, NewsCorp's largest shareholders who control the company via a 29.5% minority holding, seek to resolve a shareholder lawsuit over their decision to extend for a second year a 'poison-pill' takeover defense plan without first obtaining shareholder approval.
    The issue, currently being heard by the Delaware Chancery Court, is under challenge by Liberty which claims that settlement of the 'poison pill' issue will effectively prevent any attempt to take over NewsCorp.
    Which, of course, is precisely Clan Murdoch's objective.