News Corporation Class A
NWSA
Communication Services
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
News Corporation, through its Fox News Media division, operates one of the most influential and widely distributed cable news networks in the United States. The network has been documented as a primary vector for the systematic spread of misinformation, particularly concerning public health and democratic processes. This conduct is central to its business model, which leverages partisan engagement.
A definitive example is Fox News’s role in amplifying the false claim that the 2020 presidential election was stolen. Internal communications revealed in the Dominion Voting Systems defamation lawsuit showed network hosts and executives privately expressing disbelief in the election fraud narratives they were broadcasting. Fox Corporation, News Corp’s sister company, settled the lawsuit for $787.5 million in 2023. The network has also been a prolific source of COVID-19 misinformation, promoting unproven treatments and undermining public health guidance, according to studies by researchers at the University of Chicago.
While the company’s filings note an “augmented demand for reliable data in an era of misinformation,” its core cable news operation continues to profit from programming that regularly traffics in false and misleading content. There is no public evidence of a structural reform to its editorial processes that would prevent the recurrence of the systemic misinformation campaigns documented in multiple legal and academic analyses.
Research Sources
7 organizations
Related Exclusions
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.