Last updated: October 14, 2010 - 7:50am
F&C, the UK asset manager, will vote against the re-election of News Corp's audit committee chairman at its upcoming annual meeting 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.
Rupert Murdoch, News Corp's chairman, said last week that it had made a $1m donation to the Republican Governors Association because of his friendship with John Kasich, an Ohio gubernatorial candidate who was once a host on his Fox News channel.
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