The News Corp. CEO is interested in acquiring the two big metro dailies as owner Tribune Co. finally emerges from backruptcy, according to a report in the Chicago Tribune. But News Corp. says the report is “wholly inaccurate.” One obstacle: regulations that limit ownership of TV stations and newspapers in the same markets. Through Fox, News Corp. owns two stations in Chicago and Los Angeles.
At Tuesday’s News Corp. shareholder meeting, Murdoch and others who voted in alignment with him defeated three reform measures including one that would have forced Murdoch to relinquish his role as board chairman. It was defeated by about 69% of the ballots.
News Corp. CEO Rupert Murdoch, still coping with a phone-hacking scandal that erupted at the company’s U.K. papers last year, faces renewed calls from shareholders today to step down as chairman. Investors have mounted a campaign to separate the chairman and CEO roles — both held by Murdoch — to increase accountability.
Rupert Murdoch could be 84 years old before the British police complete multiple investigations into The News of the World phone-hacking scandal. Deputy assistant commissioner Sue Akers, who’s in charge of three overlapping probes into alleged criminal wrongdoing by journalists, said the task may continue through 2015.
Citizens for Responsibility and Ethics says the British phone-hacking scandel shows that the News Corp. subsidiary “lacks the requisite character to hold broadcast licenses here in the United States.’ The stations involved are WTTG-WDCA Washington and WUTB Baltimore.’
Murdoch stepped down this past week as a director of NI Group, Times Newspaper Holdings and News Corp. Investments in the U.K. The companies oversee The Sun, The Times and The Sunday Times.
News Corp. CEO Rupert Murdoch long resisted any suggestion that the media conglomerate spin off the newspaper assets. But recently he became more receptive to the idea, and this week, he relented.
Rupert Murdoch is overseeing internal discussions on splitting his News Corp. media company into two, one focusing on publishing and the other on entertainment, according to two people familiar with the matter. The talks are at a late stage, one of the people said.
Testifying at Britain’s long-running inquiry into media standards, Prime Minister David Cameron rejected suggestions that he traded policies favorable to Rupert Murdoch for electoral support from Murdoch’s newspapers.
From William Randolph Hearst to Rupert Murdoch, many media barons’ stories follow a familiar arc. “He’s one of a series,” said James Curran, a professor of communications at Goldsmiths University in London. “He seems to me to be in the same press baron tradition.”
A U.K. parliamentary committee’s searing indictment of Rupert Murdoch on Tuesday may trigger legal headaches for him in the United States and spur opposition to the renewal of News Corp.’s television licenses, according to legal experts.
The 81-year-old media magnate apologized today before a U.K. panel for the British phone-hacking scandal. He noted that the corporate cleanup that followed had cost his New York-based News Corp. hundreds of millions of dollars and transformed its culture.”I failed, and I’m sorry about it,” Murdoch said.
Speaking before an inquiry on Wednesday, the News Corp. chief, Rupert Murdoch, sought to deflect suggestions that he wielded influence with British officials to further his corporate interests.
The News Corp. chairman is testifying today before the inquiry set up following a phone hacking scandal at one of News Corp.’s British newspapers.
Rupert Murdoch on Thursday declared war against “enemies” who have accused his pay TV operation of sabotaging its rivals, denouncing them as “toffs and right wingers” stuck in the last century. The 81-year-old News Corp. chief executive tweeted: “Seems every competitor and enemy piling on with lies and libels. So bad, easy to hit back hard, which preparing.”
In the midst of a scandal that reaches new lows every day, Rupert Murdoch’s reactions have ranged from the canny and shrewd to the absurd. Given his tight control over News Corp., don’t expect any changes soon.
Rupert Murdoch will address hostile journalists at his Sun and Times newspapers on Friday, many of them fearful after the recent arrests of senior staff over apparent widespread criminality at the British titles.
What happened on the fateful night last May when Rupert Murdoch decided how News Corp. would manage its phone-hacking scandal?
The results released Monday from the News Corp. annual meeting last week suggest that most shareholders not affiliated with the family are opposed to one of Murdoch’s children taking control of the media conglomerate when its 80-year-old leader steps down.
Investor outrage led Rupert Murdoch to shut down Friday’s annual meeting after less than an hour and a half. The company later announced that the coup attempt against Murdoch and his directors had failed.
More than 100 people demonstrated Friday outside the annual meeting on the lot of News Corp.’s Fox Studios in Los Angeles. British lawmaker Tom Watson asked CEO Rupert Murdoch whether he was aware that a person who had left prison was hired by News Corp. and hacked the computer of a former army intelligence officer.
In Los Angeles for a shareholders meeting today, Rupert Murdoch will face pressure to remove himself and his sons from the News Corp. board. Critics say his handpicked board provides little oversight of a company with questionable ethics.
If shareholder votes of past years are any guide, the protest vote against some members of‘s board at Friday’s annual meeting could be sizable—but it is unlikely to precipitate any changes. Meanwhile, some analysts and investors say they are more focused on shareholder-friendly actions being taken, like a share buyback that is under way.
Rupert Murdoch’s campaign to keep control of News Corp. suffered a fresh blow on Friday after another key shareholder group called for his eviction from the board of the embattled media company.
Things could be interesting in Los Angeles on Oct. 21 when News Corp holds its annual shareholders meeting. Advisory firm Institutional Shareholder Services recommended today that stock owners reject 13 of News Corp’s 15 board members, including the three Murdochs: Rupert and his sons James and Lachlan.
Neville Thurlbeck, the News of The World reporter named in the key “for Neville” phone-hacking email, issued a statement Friday, hitting out at Rupert Murdoch’s News International for briefing against him, warning that “the truth will out” and that the guilty would be identified.
Jonathan Chapman, the former director of legal affairs with News International, said Rupert Murdoch wasn’t being accurate when he told Parliament that he blamed the London law firm Harbottle & Lewis for failing to uncover the scope of the hacking scandal back in 2007.
Rupert Murdoch and his son James, accused by two former employees of misleading Parliament last month, will be hauled back to testify again — this time under oath. As the News Corp. phone-hacking and police-bribery scandal continues to unfold, the company is expanding its internal investigation, led by former New York City schools chancellor Joel Klein.
In written testimony released by lawmakers today, former Murdoch lieutenants poked holes in the dramatic testimony delivered by their ex-bosses Rupert and James before Parliament last month, accusing them of misrepresentations, exaggerations and more.
News Corp. CEO Rupert Murdoch’s stance came as the company reported that its net income fell in the last quarter by 22%, mainly because of the sale of money-losing social-networking site Myspace. The phone hacking scandal and questions about Murdoch’s control of News Corp. overshadowed the media giant’s results, which beat expectations when excluding the Myspace sale.
The closeness between News Corp. and its independent directors is an example of how chumminess in the boardroom can be a problem.
The FBI’s early fact-gathering could turn into a long saga that tests or reinforces the long-standing cooperation between U.S. and British law enforcement. Most of the records and witnesses to prove or disprove the allegations are in the hands of British investigators.
Sens. Barbara Boxer and John D. Rockefeller IV are pressing a Dow Jones & Co. editorial oversight board to investigate whether any Dow Jones executives played a role in or knew about the U.K. phone-hacking scandal that has rocked corporate parentThe senators also asked the committee for reassurance that similar activities haven’t taken place in the U.S.
A protester interrupted Rupert Murdoch’s testimony in London today. Murdoch appeared by turns vague, truculent, sharp and concise as he spoke alongside his son and deputy, James, calling the parliamentary inquiry “the most humble day of my career” but refusing to take personal blame for the crisis that has swept from a tabloid newspaper through the top levels of Britain’s police and even to the prime minister’s office.
News Corp. is considering elevating Chief Operating Officer Chase Carey to chief executive officer to succeed Rupert Murdoch, people with knowledge of the situation said. A decision hasn’t been made and a move depends in part on Murdoch’s performance before the U.K. Parliament, said the people, who weren’t authorized to speak publicly. Murdoch would remain chairman, the people said.