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One of News Corp's largest shareholders is demanding reform calling present leadership 'corrupt'

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The California Public Employees' Retirement System, the largest public pension fund in the US -- one of News Corps. largest shareholders -- and one of the country's most influential investors, is stepping up the pressure for a drastic overhaul of the way News Corporation is run: "News Corp does not have one share one vote. This is a corruption of the governance system. Power should reflect capital at risk. CALPERS sees the voting structure in a company as critical. The situation is very serious and we're considering our options. We don't intend to be spectators -- we're owners."

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At www.guardian.co.uk

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