News Corp. - which owns Fox News Network - gave a million dollar gift to the Republican Governor's Association. The Washington Post indicates that other media companies have given money to political groups, but never this much. Should we care?
News Corp. can do whaever it wants, but it does so at its own peril. It seems to me there are at least two downsides to the donation. First, it has the potential to undermine any (remaining) claims that Fox News aspires to be an objective news provider. True or not, and irrespective of whether News Corp. interferes with Fox News news choices, it will be hard for Fox News to claim that as an institution, they don't have a dog in the fight.
Second, this gift provides a superb weapon to Democrats in two ways. It's great red meat for potential donors (and the Dems are already taking advantage of this). And it provides a ready response to any negative Fox coverage - even when grounded in facts. The Dems can now argue that Fox News is simply a sustained advertisement. (And if it's true that Fox has ignored this story, notwithstanding the outcry, perhaps the news operation is bought and paid for.)
I wouldn't count on this one going away. I assume that MSNBC (and Stewart and Colbert) will provide periodic reminders. All of this shows why transparency in political donations is so important and powerful.