Fox News purpose is to make money. Should American democracy be sacrificed for its profits?
“Fox News was willing to murder our democracy for money. The real reason it beat the drums for that lunacy — at the price of destabilizing the country and nearly destroying the democracy — is most shocking of all. It did it for the money. Fox inflamed the mob with lies it knew were lies. This included the thugs who attacked the Capitol, killed police and threatened to hang the vice president.
In a deposition, Rupert Murdoch, chairman of his conservative media empire, admitted that Fox hosts “endorsed” ludicrous and dangerous claims against Dominion Voting Systems’ machines — and acknowledged that they were “BS.” Why? “Not red or blue,” he said. “It is green.” – L.J. World
See how FOX TV hosts, Board Directors and investors got richer in the process.
Paul Ryan, FOX News Board of Directors
Conservative commentator Charlie Sykes grilled Paul Ryan over the “toxic sludge” pumped out by some Fox News personalities. Sykes reminded Ryan of an open letter to him in 2021, in which he condemned the Jan. 6 revisionism, COVID disinformation and embrace of “ugly racist narratives” by some on Fox News, particularly Tucker Carlson.
“The point was, OK I understand the need to have another point of view, but if you are on the board of directors of a company that is pumping toxic sludge, racism, disinformation, and attacks on democracy, if you don’t stand up now, then when?” Sykes asked Ryan. “Do you have any responsibility?” – HuffPo
“As a member of Board of Directors at FOX CORP, Paul D. Ryan made $334,986 in total compensation.” – Salary.com
Standing for what?
Mortimer Buckley, Vanguard CEO
“Buckley’s annual package is estimated to be around $15-25 million. As of 2023, Mortimer J Buckley’s net worth can lie between $60-75 million.” – List of CEOs
Vanguard owns $82 million of shares in News Corp. Yahoo Finance The value of its holding increase as News Corp and Fox News make more money.
“Vanguard is a company that stands for something—something more important than market share, growth in assets, or industry leadership. We stand for stewardship.” – Vanguard Ethics Statement
How does this Vanguard statement of ethics align with investing in a company like News Corp that knowingly spreads election lies that undermine American democracy?
Households forced to fund Fox News
“If you pay for any basic cable package, you are helping fund everything that Fox News airs, including 2020 election conspiracies. That’s because every month built into your cable bill is a fee (an average of $2 a month) that goes to Fox News — including the salaries of Carlson, Sean Hannity, Laura Ingraham and others.
Only about 3 million Americans watch Fox News on a daily basis yet the nation’s estimated 65 million cable-connected households are forced to fund Fox News, allowing Fox to reap an estimated $1.8 billion in revenue per year in carriage fees. “Fox News operates his show at a loss when it comes to ad revenue.” But Fox News can pay Carlson and other host big salaries “through carriage fees, which we all pay into through our basic cable packages…” – MSNBC
Take Away: Hold corporations and individuals accountable for undermining American democracy for the sake of profits.
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Reposted from Democracy Labs with permission.
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