Massachusetts Senator John Kerry owns large stake in Comcast, News Corp
Democrat Massachusetts Senator and former presidential candidate John Kerry owns more stock in media companies than any other member of Congress, according to a report released Wednesday by the site opensecrets.org.
The senator’s holdings include a $1.75 million stake in Comcast and $600,000 in News Corp, the parent company of Fox News.
Though Kerry’s stake is the highest, at least seven other Congressmen hold stocks in media companies worth $100,000.
Comcast was in the news earlier this year for its much talked-about and contentious acquisition of NBC Universal. In January, the Federal Communications Commission approved the merger, to the chagrin of media reform activists and some lawmakers on Capitol Hill.
Kerry, who is chairman of the Senate Commerce Communications Subcommittee, urged careful review of the merger, but ultimately supported it.
A spokesperson for Kerry told the OpenSecrets blog that the senator’s holdings were inherited in family trusts that “he has no investing control over whatsoever.”