Fox News is currently embroiled in a life-and-death struggle with supporters of GOP presidential candidate Ron Paul. Paul supporters are understandably upset that their favorite was and remains excluded from a forum to be televised by Fox that is sponsored by the Republican Party of New Hampshire.
Was sponsored by the Republican Party of New Hampshire, one should say.
The granite state‘s GOP has just pulled the plug on its sponsorship of the forum - in protest ofFox News’ refusal to (a) let Ron Paul participate in the five-candidate roundtable discussion, and(b) give an explanation of their reason to the New Hampshire GOP - or to even return its leaders’numerous phone calls.
It cannot be denied that Paul supporters relentless pressure had at least a hand in getting the stateparty headquarters to make that drastic move. What is not quite as clear, though, is whether RonPaul supporters’ tireless protests, blog posts, editorials, and news articles asking investors toshun NWS stock really had all that much to do with News Corporation’s recent drop off from analready eight month old decline in the value of NWS’s shares.
This three-year chart shows the stOck’s history:
Since the entire spat did not come to a head until a blog post on December 27, 2007 reported that Ron Paul was excluded, it is rather clear that Paul supporters had nothing to do with the origins of this rather significant decline.
But that doesn’t mean they can’t make it even worse.
Paul-friendly blogs and editorials are falling all over themselves to disabuse investors of the notion that NWS could bring them any profits anytime soon because they advise all future Ron Paul voters to dump NWS stock and stop buying products from Fox News advertisers
The possibility that their efforts can have significant impact should not be underestimated. They have drummed up enough support for Ron Paul in Iowa to get their candidate 10 percent of the state’s caucus goers’ votes.
They also had enough firepower to voluntarily orchestrate two consecutive “Ron Paul Money Bombs” which netted the “Champion of the Constitution” as they call Paul over ten million dollars and propelled their candidate to the likely top of the entire GOP field’s Q4 fund raising booty.
They see themselves as a fighting a peaceful “revolution” - a movement, even, that will restore the country to its constitutional roots.
The fact that they can have a disproportionate effect in the political sphere cannot be denied. If they can now prove their economic clout is equally pervasive, Murdoch’s News Corporation could see some very choppy waters ahead. Quite possibly, other investors may be catching on, Since December 27th, the stocks value has declined more rapidly than it did before.