Fortress Time Warner? Board Blocks Special Shareholder Meetings

Rupert Murdoch (AP Photo)
Rupert Murdoch (AP Photo)
Rupert Murdoch (AP Photo)

 

(USA Today) – Time Warner, stepping up its effort to fend off pesky octogenarian Rupert Murdoch, said Monday that it will not allow shareholders to call special board meetings.

The move temporarily amends corporate provisions allowing shareholders to call special board meetings – the kind that suitors typically request to press their case.

Word surfaced last week that Murdoch, chairman of rival media giant 21st Century Fox, had offered $80 billion for Time Warner, parent of HBO, CNN and Warner Bros. Murdoch, 83, first expressed interest in the company in 1995.

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