Saturday, October 16, 2010

Witness Rupert Murdoch squirm after major grilling by his stockholders.

Murdoch squeezed over News Corp massive political contributions by shareholders. http://mediamatters.org/blog/201010150017

MLP 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.

MLP 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.

MLP STOCKHOLDER: Thank you very much.

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