Foreign & Colonial, a British fund manager which controls shares in News Corp, is unhappy with Rupert Murdoch for allegedly using company funds to support the Republican Party. It will vote against the re-election of audit committee chairman Sir Rod Eddington to the board at the media giant’s annual investor meeting in New York on Friday. News Corp has given $2 million to the Republican Party in recent months — it recently gave $1 million to the US Chamber of Commerce, a lobbyist group which campaigns for Republicans to take control of Congress and $1 million to Republican candidates standing for election in the mid-terms. F&C represents investors angry that Murdoch is using News Corp funds for personal politics. “There is no evidence of a political contributions policy or process at News Corp and the board does not have an explicit oversight role,” F&C tells me. F&C’s corporate governance head Karina Litvack has expressed “concern” at News Corp using shareholder funds for political contributions. News Corporation declined to comment.
Rupert Murdoch Donations Raise Eyebrows
For all of Deadline’s headlines, follow us @Deadline on Twitter