ValueAct Founder Ubben Increases Hollywood Exposure

One of the “white hat” activist hedge fund managers, Jeffery Ubben, was rewarded by a firm in which he invests, 21st Century  Fox, who recommended making room for him on their board of directors. A formal vote on the nomination will take place later this year. California-based Ubben increases exposure to Hollywood Managing over 18 billion, ValueAct Capital Management LP. owns a 5.9 percent stake in 21st Century Fox through class B Voting shares and has pledged not to take their ownership above 7 percent, known as a “cease-fire” agreement. The movie studio is expanding its board of directors from 12…