Vote YES on Fox Corp. Shareholder Resolution: Fix Fox News

Vote YES on Fox Corp. Shareholder Resolution: Fix Fox News

Started
October 21, 2021
Signatures: 1Next Goal: 5
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Why this petition matters

Started by Sarah Ryan

We -- current or retired California public school teachers -- call on CalSTRS to hear our voices on Fox Corporation Shareholder Resolution #5 and vote YES at the corporation's annual meeting on November 10, 2021. Resolution #5 will help protect the value of our retirement fund by reconstituting Fox Corp. as a Public Benefit Corporation (PBC) with the capacity to undertake the critically important task of detoxifying Fox News as a source of disinformation.

 

Why is Fox Corp. Resolution #5 Needed?

A lack of concern for accuracy at Fox News increases financial risk to teachers as CalSTRS pension holders: Fox News disinformation campaigns regarding issues such as COVID-19, white nationalism, climate change, and an attempted coup pose threats to the stability of U.S. society and government, as well as roiling our economy and the world’s. In effect, Fox News disinformation jeopardizes the value of other investments in the rest of the CalSTRS portfolio. 

 

If Fox Corp. were a PBC, its directors could take a broader perspective on the best interests of most shareholders, recognizing that the value of diversified shareholders' portfolios (such as our own at CalSTRS) relies far more on healthy social and environmental systems that support a thriving economy than on the profit Fox Corp. gains from the disinformation spread by Fox News. 

It is critically important for CalSTRS to exercise its fiduciary responsibility to teachers and stand up for accuracy in Fox News programming by voting YES on Resolution #5.

 

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Signatures: 1Next Goal: 5
Support now
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