Annual Report Brags About Positive Social Impact As Though They Don’t Know Fox News Exists

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Annual Report Brags About Positive Social Impact As Though They Don’t Know Fox News Exists
By Fox News Channel [Public domain], via Wikimedia Commons

Media Watchdog on 21st Century Fox’s Shareholder Meeting: “Annual Report Brags About Positive Social Impact as Though They Don’t Know Fox News Exists”

Media Matters for America Says 21st Century Fox’s Shareholder Materials Show that Fox News Is a Problem for the Company

Today, as 21st Century Fox shareholders gather in Los Angeles for the company’s annual general meeting, shareholders were given materials detailing the company’s efforts to deliver positive “societal value,” shed “light on the importance of representation of women in media,” and create an “inclusive … organization.”

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Julie Millican, vice president of Media Matters for America, a nonprofit media watchdog that has been critical of 21st Century Fox’s Fox News channel issued the following statement: 

“Shareholders at 21st Century Fox’s annual meeting today are being given sections of an annual report that brags about the company’s positive social impact as if they don’t know that Fox News even exists.

“21st Century Fox brags about its admittedly very good film Love, Simon, and how it ‘sparked a dialogue about LGBTQ issues’ while conveniently omitting the ‘dialogue’ being sparked by its 24-hour right-wing propaganda outlet Fox News where LGBTQ folks are routinely demonized.

“Without skipping a beat, the company boasts about shedding ‘light on the importance of representation of women in media’ while willfully ignoring that the ‘representation’  it promotes on Fox News is one of women who up until very recently weren’t allowed to wear pants on-air.

“21st Century Fox hypes up FOX Sports for using ‘sports as a lens through which to view important cultural stories’ as though Fox News wasn't on the front lines in attacking NFL players kneeling in protest over police brutality as unpatriotic ‘punks’ who ‘hate’ America.

“Laughably, 21st Century Fox brags about its “long valued diversity and inclusion” efforts as if Fox News’ entire prime-time programming isn’t steeped with white nationalist themes and demonization of noncitizens and people of color. In the weeks leading to the midterm elections, for instance, the network spent over 33 hours fearmongering about a so-called “invasion” of refugees it claimed were filled with terrorists and gang members coming to wreak havoc on our country. 

“The message is clear: 21st Century Fox knows that Fox News is a problem for shareholders so rather than confront the Sean Hannity-sized elephant in the room, they’ve taken a path all too familiar for Fox News: Hide the truth.”

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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