Murdoch’s News Corp. to Disclose Political Contributions
Posted at 9:42 a.m. on April 23, 2013
News Corp. has agreed to disclose to shareholders corporate political contributions, according to Reuters. The action to adopt such a policy was included in the settlement yesterday of a shareholder lawsuit against the company alleging the company did not fully to investigate its phone hacking scandal. It also alleged Rupert Murdoch had used corporate funds to help his own political causes. It is unclear how ‘political contributions’ is defined in the settlement. It may relate to just contributions to candidates and parties, or it may also relate to contributions to other organizations, groups, or associations.
Murdoch’s News America Inc., formerly known as News Corp, placed a copy of its Political Activities Policy on its website in July 2012.
News America Inc. also reported spending $1,220,000 on federal lobbying during the first quarter of 2013. In the last quarter of 2012, News America Inc. reported spending $1,550,000 on federal lobbying.
News America Holdings Inc-Fox PAC reported giving out $494,500 to federal candidates and committees in the 2011-2012 cycle. See financial profile.