Something you miss is that the Murdoch Press supported Tony Blair and Labour back in 1997 and, I believe, also in the next general election. Since Murdoch owns something like half the British press, that's huge!!!
Murdoch is very much a Tory/GOP sympathiser, but we likes to pick a winner (and iirc Blair did him some favours following his election).
I don't see Murdoch going as far as supporting Obama. Why? Unlike his readership in Britain back in the 90s, his US viewership seems to still vote solidly conservative.