21st Century Fox has nominated Jeffrey Ubben, ceo of activist hedge fund ValueAct Capital Management, to its board. The move is part of a larger agreement in which ValueAct said it would not launch a proxy fight or other hostile action against the company for the length of the board term. ValueAct currently owns 5.9% of 21st Century Fox's Class B voting stock Ubben will go up for election at Fox's annual shareholders' meeting later this year. Read the original story from The Wall Street Journal.