Another Newscorp shareholder will cast a vote against Murdoch's political contributions during the annual meeting tomorrow. This time it's a bigger investor.
The Financial Times reports:
F&C, the UK asset manager, will vote against the re-election of News Corp’s audit committee chairman at its upcoming annual meeting on Friday over the media group’s million-dollar political donations to the Republican Governors Association and the US Chamber of Commerce.
“We are concerned to see the company deploy shareholder funds for activities that are best left to the individuals whose views they reflect and are not obviously a business matter for the company,” said Karina Litvack, head of governance and sustainable investment at F&C.
She told the FT that F&C held almost 78,000 shares in News Corp, a stake worth about $1.1m in a company with a $36.5bn market capitalisation, and that it had been a long-term shareholder. “We’re not the kind of investor that buys into a company to make a point,” she said.
