Investors pile in against Murdoch

Editor | 28-11-2011

For James Murdoch the forthcoming BSkyB AGM on 29 November looks very much like a reprise of his recent appearances in front of the UK parliamentary committee as a number of investors are calling for him to step down as chairman.

The rebellion against the reselection of Murdoch is being led by insurer Legal & General, the Local Authority Pension Fund Forum (LAPFF) and Kames Capital, the fund-management unit of Dutch insurer Aegon.
It is thought that at present a fifth of BskyBís shareholders have confirmed that they will either abstain or vote against Murdoch continuing in his role, citing concerns about his stewardship in the wake of the News Corp phone hacking scandal.