At an annual shareholders meeting yesterday, News Corp chairman Rupert Murdoch said that his political donations to Republican political entities like the Chamber of Commerce and the Republican Governors Association are “in the best interest of the country.” He also claimed that the donations have “nothing to do with the editorial policies or the journalism” that his company provides.
Media Matters, which posted audio and a transcript of the shareholders meeting, reports that — when asked directly about whether he would engage shareholders in the process of selecting recipients of political donations — Murdoch dismissively said, “No”:
STOCKHOLDER: And going forward, then, would you be willing to have greater disclosure to shareholders around political contributions, both the policies and the actual dollar amounts? It’s particularly troubling to shareholders that, in particular, the U.S. Chamber contribution was only learned of by shareholders because of a leak to the press. Would the board consider much broader disclosure around shareholder — around political spending?
MURDOCH: We’ve considered it from time to time. I don’t believe we’ll [inaudible] it again, but we’ll see.
STOCKHOLDER: Would you be willing to engage shareholders in that process?
MURDOCH: No. Sorry, you have the right to vote us off the board if you don’t like that.
As ThinkProgress’ Ian Millhiser wrote recently, “There actually are laws against corporate managers treating a publicly-traded corporation as if it were their own personal bank account.” During yesterday’s call, one of the shareholders asked Sir Roderick Eddington, chairman of News Corp’s audit board, to justify Murdoch’s donations. Eddington’s answer didn’t inspire much confidence, suggesting it defers to Murdoch’s decision-making: “The board takes advice from the management team and considers it on that basis, and also refers it to the company’s general counsel, and on that basis the donations were made. I understand the concerns.” Listen here:
Help us Prepare for Trump’s Day One
Trump is busy getting ready for Day One of his presidency – but so is Truthout.
Trump has made it no secret that he is planning a demolition-style attack on both specific communities and democracy as a whole, beginning on his first day in office. With over 25 executive orders and directives queued up for January 20, he’s promised to “launch the largest deportation program in American history,” roll back anti-discrimination protections for transgender students, and implement a “drill, drill, drill” approach to ramp up oil and gas extraction.
Organizations like Truthout are also being threatened by legislation like HR 9495, the “nonprofit killer bill” that would allow the Treasury Secretary to declare any nonprofit a “terrorist-supporting organization” and strip its tax-exempt status without due process. Progressive media like Truthout that has courageously focused on reporting on Israel’s genocide in Gaza are in the bill’s crosshairs.
As journalists, we have a responsibility to look at hard realities and communicate them to you. We hope that you, like us, can use this information to prepare for what’s to come.
And if you feel uncertain about what to do in the face of a second Trump administration, we invite you to be an indispensable part of Truthout’s preparations.
In addition to covering the widespread onslaught of draconian policy, we’re shoring up our resources for what might come next for progressive media: bad-faith lawsuits from far-right ghouls, legislation that seeks to strip us of our ability to receive tax-deductible donations, and further throttling of our reach on social media platforms owned by Trump’s sycophants.
We’re preparing right now for Trump’s Day One: building a brave coalition of movement media; reaching out to the activists, academics, and thinkers we trust to shine a light on the inner workings of authoritarianism; and planning to use journalism as a tool to equip movements to protect the people, lands, and principles most vulnerable to Trump’s destruction.
We’re asking all of our readers to start a monthly donation or make a one-time donation – as a commitment to stand with us on day one of Trump’s presidency, and every day after that, as we produce journalism that combats authoritarianism, censorship, injustice, and misinformation. You’re an essential part of our future – please join the movement by making a tax-deductible donation today.
If you have the means to make a substantial gift, please dig deep during this critical time!
With gratitude and resolve,
Maya, Negin, Saima, and Ziggy