Starboard Value's Jeffrey Smith is firing a shot across the bow of the Murdoch family with a nonbinding proposal to collapse the dual-class share structure at News Corp. (NWS) that ensures the family's control, Crystal Tse says on "Bloomberg Open interest." News Corp. is in a transitional phase as Rupert Murdoch steps aside and his son, Lachlan Murdoch, takes over.

Bloomberg videos, provided by MT Newswires