Muckety
 
 
 
 
 

Jim Breyer joins tangled web of News Corp.

By Laurie Bennett

October 30, 2011 at 2:17pm

You have to wonder why anyone would want to join the News Corp. board.

Venture capitalist Jim Breyer clearly embraces challenge.

Breyer, managing partner of Accel Partners, became a director last week, as Chairman and CEO Rupert Murdoch and his two sons were re-elected.

Jim Breyer
Jim Breyer

The fix was in for the Murdochs, who control about 38 percent of the voting stock. Nevertheless, more than a third of the stockholders opposed re-election of James and Lachlan Murdoch.

Breyer received the highest number of affirmative votes of anyone on the ballot.

Given the scandals and lawsuits that have occurred under the old leadership, he no doubt gained support by being the only new face.

But Breyer also brings extensive board room experience. He’s a director of Wal-Mart, Dell and Facebook. He also sat on the board of Marvel Entertainment until its acquisition by Disney.

Despite his overwhelming approval at the annual meeting, not everyone was happy about his nomination.

CtW Investment Group, which says it is affiliated with union pension funds, questioned Breyer’s independence and called for more information about his relationships to the company and its top execs.

They noted that Accel Partners was an investor in MySpace China, which employed Rupert Murdoch’s wife, Wendi Deng. News Corp. sold MySpace this year at a loss of $545 million.

Meyer and Deng were also reported to have invested in Art.sy, an art discovery site patterned after Pandora.

Breaking the long-established pattern of entanglements among the Murdoch family, News Corp. and its board will undoubtedly require more than one new board member, particularly if he brings new connections to the mix.

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

This post is tagged with: , , ,
 Read related stories: Business · Recent Stories  

0 Comments

  • There are no comments yet, be the first by filling in the form below.

Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.


Become a fan of Muckety on Facebook

  • Search for stories
      
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC