News Corp annual meeting delivers strong shareholder backing for all board nominees
At its 5 November 2026 annual meeting of stockholders, News Corporation saw all six directors elected, Ernst & Young LLP ratified, executive compensation approved on an advisory, nonbinding basis, and an annual frequency chosen for future say-on-pay votes.
Strong support across the ballot points to shareholder confidence in the company’s governance and the board’s direction. Each matter was decided by poll, with all votes submitted via valid proxies received before the meeting.
Lachlan K. Murdoch, Chair
“Fiscal 2026 marked another record year for the company…”
Director election results
All six nominees were elected to serve as a Director of the Company. Robert J. Thomson drew the highest support at 99.6%, while José María Aznar received the lowest at 81.8%, with 18.2% voting against.
| Director | For | Against | For % | Against % |
|---|---|---|---|---|
| Lachlan K. Murdoch | 134,517,212 | 10,188,853 | 93.0% | 7.0% |
| Robert J. Thomson | 144,152,401 | 556,892 | 99.6% | 0.4% |
| José María Aznar | 118,304,666 | 26,402,736 | 81.8% | 18.2% |
| Natalie Bancroft | 135,989,504 | 8,719,374 | 94.0% | 6.0% |
| Ana Paula Pessoa | 140,573,702 | 4,134,125 | 97.1% | 2.9% |
| Masroor Siddiqui | 135,856,150 | 8,852,036 | 93.9% | 6.1% |
Other proposals passed
The remaining three proposals also passed with large majorities:
- Ernst & Young LLP was ratified as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2027: 98.8% for.
- The advisory, nonbinding executive compensation vote: 95.8% for.
- Frequency of advisory votes: 1 Year was preferred by 99.3%, and the Company will include an advisory vote to approve executive compensation on an annual basis until the next required vote on frequency.
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What advisory votes mean for investors
A “say-on-pay” vote lets shareholders express a view on executive pay. Because the vote is advisory and nonbinding, it signals shareholder sentiment rather than compelling a change.
Choosing a 1 Year frequency means shareholders will have an annual voice on executive compensation. Support of 99.3% for that option was the clear result.
Broker non-votes occur when a broker holds shares for a client but does not vote on certain matters without instructions. The meeting recorded 2,835,748 broker non-votes on the director and executive compensation items.
High approval levels across the proposals point to low governance friction, although Aznar’s 18.2% vote against was the largest dissent among the nominees.
Fiscal 2026 record results highlighted to stockholders
Remarks prepared for the meeting were furnished as Exhibit 99.1, covering fiscal 2026 results already reported. Chief Executive Robert Thomson told stockholders the company delivered record revenue and profitability on a continuing operations basis.
Key group-level metrics he cited:
- Revenues rose 7% to $9 billion
- Total Segment EBITDA increased 15% to over $1.6 billion
- Free cash flow rose 42% to $811 million
- Net income from continuing operations rose 15% to $743 million
- The buyback accelerated to well over four times the prior year’s rate at $643 million
The buyback acceleration signals capacity to return capital to shareholders, which Thomson linked to the company’s enhanced cash position.
Robert Thomson, Chief Executive
“That positive trajectory, and the record profits, reflected our clear digital strategy and our focus on recurring revenues.”
Segment performance
The table below summarises the segment figures Thomson outlined.
| Segment | Revenue | Revenue growth | Segment EBITDA | EBITDA growth |
|---|---|---|---|---|
| Dow Jones | nearly $2.5 billion | 7% | $663 million | 13% |
| Digital Real Estate Services | $2 billion | 12% | $741 million | 23% |
| Book Publishing | $2.3 billion | 6% | n/a | n/a |
| News Media | $2.2 billion | 3% | n/a | n/a |
Other highlights from the remarks:
- At an Investor Briefing in March, the Dow Jones team outlined a path to $1 billion in Segment EBITDA.
- The Dow Jones news business finished the year with over 6.7 million total subscriptions, a 7% increase.
- Realtor.com closed fiscal 2026 with three straight quarters of double-digit growth and seven consecutive quarters of year-on-year expansion.
- In Australia, REA Group saw revenues increase 12% to $1.4 billion.
- Following the sale of REA India, the team also referenced the planned 35% investment in Distilled.
- The News24 brand has officially replaced Sky News in Australia.
- The company noted the successful launch of The California Post.
AI positioning
Thomson described a “woo and sue” approach to artificial intelligence. News Corp cultivates partnerships with principled companies who respect the importance of provenance, while also taking aggressive action against those who steal its content at scale.
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