Comcast Shareholders to Decide on Lobbying Disclosure Requirements
Comcast is advising shareholders to vote down a proposal requiring it to do an annual report on its lobbying policies and spending. The proposal is on the agenda for the company's June 11 annual meeting, said the proxy statement filed…
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Monday with the SEC. The board's recommendation said the information "is generally publicly available in appropriate detail" and the proposal would "incur unnecessary expense." The shareholder proposal was brought by groups including Friends Fiduciary Corp., Swift Foundation and Sisters of St. Joseph of Boston. They said Comcast not disclosing membership in or payments to trade associations or the amounts used for lobbying "leaves a serious disclosure gap." Similar proposals were part of the proxy votes this year for Charter Communications (see 1803160005) and AT&T (see 1803130003). Charter said Monday its shareholder proposal was voted down; AT&T said last week its shareholder proposal also was voted down.