No Changes For News Corp Board, Which Rejects Independent CEO Proposal

RUPE ON THE ROPES At Annual Meeting: Insults Fly As News Corp Fights Shareholders Pushing For Better Governance & Independent CEO

October 21, 2011 – Los Angeles, CA – Following its Annual Meeting of Stockholders

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News Corp Scandal: Rupert Murdoch Gets A Huge Raise, Son James Rejects His Bonus And Jim Breyer Will Join The Board

Overseeing News Corp’s phone hacking and bribery scandal pays pretty well it seems. Chairman and CEO Rupert Murdoch will be getting a $12.5M bonus, which with his salary takes him to $33M for the 2011 fiscal year, a 47% raise. Son James would have been getting $17.9M, but … Read More »

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Scandal Ruins Plan For Elisabeth Murdoch To Join News Corp Board For Now

With independent board members privately rebelling and institutional investors publicly complaining about inadequate corporate governance in the wake of the UK phone-hacking scandal, News Corp’s board of directors is scheduled to meet Tuesday in Los Angeles ahead of the company’s fiscal year-end earnings release the next day. Now the media giant’s Wall Street Journal is reporting that Elisabeth Murdoch and the media giant have shelved plans for her to join the board for now. The 42-year-old daughter of News Corp Chairman/CEO Rupert Murdoch was expected to join the board as part of her return to the company through News Corp’s acquisition of the Shine Group, the television-production company she runs. Rupert had even said in a news release in February that he expected her to join the board when the £415 million ($680 million) Shine acquisition was completed in April. News Corp independent director Viet Dinh said in a statement Friday that Elisabeth ”felt it would be inappropriate” to join the company board at its annual meeting later this year and the company’s independent directors agreed. Read More »

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Shareholders Sue News Corp Over Scandal: Corporate Governance “Culture Run Amok”

No doubt this will be the first of many News Corp shareholders filing claims in Delaware Chancery Court because the Big Media giant is incorporated in that state. The accusations focus on colossal corporate governance failures surrounding the ongoing British phone-hacking scandal that led to the closing this past week of the company’s … Read More »

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