Starboard Value is seeking to eliminate News Corp’s dual-class capital structure so that each outstanding share of the company’s common stock is equivalent to one vote.

(Reuters) -Hedge fund Starboard Value confirmed on Monday it had filed a shareholder resolution to eliminate the dual-class share structure that allows Rupert Murdoch to control News Corp, the publisher of the Wall Street Journal.

Starboard Value LP is pushing News Corp. to eliminate its dual-class share structure and is prepared to take further action against the media company if it refuses to engage.

Activist investor Starboard Value said News Corp should eliminate its dual-class share ... which has a stake in The Wall Street Journal parent, said in a letter to shareholders.

News Corp. (NWSA) saw a 1.6% increase after an activist investor suggested ending its dual-class share structure to enhance shareholder value.