And now, death
Tenacious
7/19/2011 7:29:59 AM
Didn't think this mess could get any messier until I read about the death of whistleblower Sean Hoare. Marvin, obviously Murdoch will emerge with a lightier bank account, based on these falling share prices. But what. ultimately, do you think is in store for him?
I'm wondering if the scandal will reach the US and affect Murdoch's properties here. The FBI has already opened the 9/11 phone hacking investigation here, and the WSJ has been marginally affected with the departure of Les Hinton, but we may emerge as his new safe haven and political power base.
Does anyone know if Murdoch has dual British/US citizenship or is strictly a US citizen now? Just curious.
Who goes under the bus?
ProfR
7/19/2011 8:40:55 AM
In these kind of situations, you always need someone to "throw under the bus", i.e., be punished for what happened. That gives everyone a chance to say they did something and that things are now cleaned up. This will be interesting.
Newscorp empire
tokyogai
7/19/2011 9:05:34 AM
If they can keep the scandal to the UK, the effects will be sohrt term and an apology may work. If this contagian makes it across the Atlantic to Fox or the Wall Street Journal, it will signal real serious long term problems for Rupert. Maybe he has been a little too arrogant?
Interesting Andrew Ross Sorkin NY Times Dealbook article today on how toothless the News Corp BOD has been in all of this, despite what should be some heavy hitters such as John Thornton of Goldman Sachs and Tom Perkins, the VC founder of Kleiner Perkins.
Just goes to show that all roads MAY lead to Rupert when searching for the FINAL ANSWER SCAPEGOAT. Chase Carey hasn't been mentioned, nor has Lachlan. Throw James under the bus? That'll be the litmus test for whether Rupert is man or monster, but I wouldn't make book on those "cozy Murdoch holiday dinners" in 2011...
Isn't it sad at a time like this that we can't trust a single word or opinion that the WSJ has to offer? To me, that's the REAL casualty of all of this!
Re: Newscorp empire
Phoenix
7/19/2011 11:18:09 AM
The situation will definitely get worse if phone hacking was done in the States too. It's saddening to know that people would do that just to get information. What is the world coming to? Don't we have any more ethics or care about the pain that can be caused to others?
So phones were hacked to get the story?
News Corp has some political connections? and is a tightly controlled business with a weak Board?
No surprises yet, but there may be some entertainment value while it all plays out. The bigger problem for News Corp investors is that too much of the empire is still in paper based Media and they have already demonstrated ineptitude elsewhere (remember MySpace).
Re: News Corp: Journalism Worth Watching
Street Smart
7/19/2011 2:50:33 PM
Well, I agree that your comments DO put the whole l'affaire News Corp into perspective, #PredictableChaos! Or...to quote my favorite line (so far), "The Schadenfreude is so thick you can't cut it with a chain saw..."
Particularly agree about the paper-based media thing. News Corp is nothing I would want to invest in (and I don't mean just now.) There was the MySpace debacle and Murdoch overpaid for the Wall St. Journal as well.
He was so cavalier about closing down News of the World, because he had belatedly concluded that he needed to consolidate print properties in Britain and was counting on the BSkyB deal to smooth things out.
Bottom line, this guy is running out of continents to take over. But not q-u-i-t-e. He still has China, tough as that row will be to hoe, so if other parts of the former British Empire fail to appreciate him...look for Rupert to re-surface in the world's largest market when this is all over.
Murdoch all drama!
ProfR
7/19/2011 5:14:35 PM
Interesting drama today during the hearing. A young man rushed up to Rupert Murdoch, holding a paper plate full of foam. His wife, lunged toward the attacker and partly thwarted the attack but some foam hit Murdoch.
The Murdochs spent much of the day saying they were sorry about the unethical practices at their British newspapers but they knew nothing about what happened.
Stay tuned in!
Whoa! Was security THAT lax? That does not bode well AT ALL! When Casey Anthony is better protected than Rupert Murdoch, something is very amiss...
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