Activist investor Irenic Capital Management has expressed its support for Starboard Value's push to eliminate the dual-class share structure at News Corp, which is controlled by Rupert Murdoch.

Irenic, which has been advocating for similar changes, opposes the current dual-class system and has communicated this to the company's board. They also suggest that if a transition to a single-share structure occurs, the Murdoch family and other super-voting shareholders should receive a premium.

Proxy advisory firms ISS and Glass Lewis have also endorsed Starboard's campaign, which previously failed to dissolve the dual-class structure despite receiving support from 90% of non-Murdoch shareholders. The Murdoch family currently holds about 40% of the voting power through a family trust and supervoting Class B shares, which complicates potential governance changes.