This is sure to add fuel to Wall Street’s hopeful speculation that News Corp might sell its scandal plagued UK newspapers. Deputy COO James Murdoch, Rupert’s son, has wiped the ink off his hands by resigning from the boards of the company’s UK print operations, according to multiple news reports citing News Corp filings at Companies House, which regulates corporate activities. He left Times Newspaper Holdings — the institution that was supposed to protect the independence of the Times of London and the Sunday Times when Rupert Murdoch bought them in 1981 — as well as News Corporation Investments and News International Publications Limited. These moves follow James’ resignation last month from the executive chairman job at News International, which oversees the UK print operations. He said at the time that the decision made sense following his move to New York to expand “my commitment to News Corporation’s international television businesses and other key initiatives across the Company.” Murdoch has also recently resigned from the boards of Sotheby’s and GlaxoSmithKline, but he’s still chairman of BSkyB. His withdrawl from the UK newspapers comes as investors clammor for News Corp to ditch the business that Rupert loves. Critics say that newspapers are growth challenged and a distraction as News Corp grapples with multiple investigations into journalist phone hacking and bribery. Last month COO Chase Carey acknowledged to an investor group that the value of News Corp shares probably would rise if it unloaded the newspapers, but added that the company’s focus “is on managing these businesses and improving profitability.”


Gee…it’s so much easier for big business to break the law in the united states…
He needs to resign from News Corp entirely, to go and ‘spend time with my family.’ Just watch the News Corp shares shoot up after that announcement. Seriously, can him and pronto. He is dragging the company down. Given the choice between acknowledgement of criminality and incompetence, he chose incompetence, which is still a fire-able offence for a top-evel executive. It is frankly insulting that he remains in the job in any capacity.
This Monday, the BBC’s flagship current affairs / investigative journalism show, Panorama, is airing a report accusing one of Murdoch’s companies, NDS, of having used illegal methods to destroy its Italian rival. NDS was also accused of having done the same to EchoStar in the U.S. These were cleared by a court and NDS won damages. It will be interesting to know what, if any, new evidence has been uncovered.
I think the New York Times first uncovered the EchoStar scandal, in a report last year. The mentality at News Corp is one of bullying, scare tactics and – as the last four years have repeatedly proved -illegality. I still find it staggering that James Murdoch has retained his job. Can you imagine if his last name was anything other than Murdoch? He would have resigned the day after the hacking scandal broke. He would have collapsed as quickly as News International. I still maintain that it was an enormous tactical error to not convince Murdoch Senior to let Murdoch Junior walk when the scandal broke. The strategy seems to be to wait out the scandal, but that hasn’t worked so far, and shows no sign of working in the future. Give it up, James, in every sense of the phrase! It’s insulting that you’re still in the job.
Where’s the investigation into whether News Corp/Fox News was engaged in similar phone-hacking here in the U.S.?
Good riddance you crook.
The CBC did a documentary called Scandal: Inside the Murdoch Empire which was actually entertaining. I’m glad this story is not going away anytime soon. The more people know the better.