News Corp. has spent $1.3 million to defeat a California ballot initiative that would repeal $1.7 billion in corporate tax breaks, something that wasn’t disclosed in five consecutive hours of live reports on Tuesday, reports The New York Times.
Fox Business correspondent Adam Shapiro, for instance, repeatedly said that the proposition would drive small businesses out of California, while Tracy Byrnes, an anchor for one report, said “the proposition was setting up businesses to be destroyed, quite frankly," according to the article.
A Fox Business executive said he didn’t know about his parent company’s donation.
“Not disclosing conflicts, to me, severely undermines your credibility," says Kevin Z. Smith, who holds the ethics chair for the Society of Professional Journalists, the story says.
News Corp., The Walt Disney Company, Time Warner, Viacom, CBS and General Electric represent six of the largest nine donors to the group No on 24 — Stop the Jobs Tax, the story points out.