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NY Times: News Corp. To Disclose Its Political Donations

Reported by Ellen - May 15, 2011 -

The New York Times reports today that News Corp. will begin to disclose its political donations each year, with the first disclosure "by July 15" and then in each following January.

The Times reported:

The move comes after the company was highlighted for donating $1.25 million to the Republican Governors Association and $1 million to the U.S. Chamber of Commerce ahead of the midterm elections last year.

...The decision may have stemmed from shareholders who raised questions about the donations at an annual meeting last October. “Our concern was not only that shareholders found out not through the standard decision-making process but through media reports, but more importantly that this was shareholder money that was being used — but it was not being used for a clear rationale for furthering shareholder value,” Laura Shaffer Campos, the director of shareholder activities for the Nathan Cummings Foundation, told The Associated Press.

At the annual meeting, Mr. Murdoch said the donations were “unusual” and were “in the interest of our shareholders and the country,” according to the liberal monitoring organization Media Matters, which posted audio clips of his comments. The interest, Mr. Murdoch suggested, was in bringing “change” to Washington.

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