Lachlan Murdoch’s Reelection at News Corp. Is Opposed by ISS (1)

News Corp. shareholders are being told by Institutional Shareholder Services, a leading proxy adviser, to withhold their votes for four board members, including Chairman Lachlan Murdoch.

ISS cited Murdoch’s “substantial” pledge of company shares as collateral for a loan and the company’s dual class of shares with unequal voting rights.

Murdoch recently bought out shares held by three siblings in a deal that settled a family dispute over who controls the company. The transaction involved borrowing $1 billion, with shares of News Corp. and Fox Corp., another family holding, used as collateral.

“Pledging of company stock ...