Yesterday, News Corp. shares rose 6 percent after reports circulated that some of the company’s board members want to replace Rupert Murdoch with Charles “Chase” Carey, president, COO, and deputy chairman of the company. Murdoch would still remain chairman, though, which begs the question: would a new CEO bring about change in the way that News Corp. is governed? Vikas Mehrotra, finance professor at the University of Alberta, talks about how the Murdochs maintain extraordinary power in the company’s corporate governance as majority shareholders, and how the phone hacking scandal may shake up the corporate structure.
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