News Corp Board Challenged to Disclose Political Spending (NWSA)

The Nathan Cummings Foundation called on the News Corporation

Board of Directors to fully disclose the Company's political spending to shareholders at the News Corp. shareholder meeting in New York City this Friday, October 15th. The Foundation's request came on the heels of media reports that News Corp. made separate $1 million contributions from the corporate treasury to the Republican Governors Association (

) and the U.S. Chamber of Commerce, which is projecting $75 million in anonymous corporate spending on the November elections. NCF, a News Corp. shareholder, expressed particular concern about apparent statements from Chairman and CEO, Rupert Murdoch, that the Company's $1 million contribution to the RGA was not made to further the interest of News Corp. or its shareholders, but was a result of his personal relationship with Republican gubernatorial candidate, John Kasich. The Foundation also expressed concern over reputational risk for News Corp. connected to the $1 million contribution to the U.S. Chamber, which has recently come under fire for alleged tax fraud and potential violations of federal election laws.