Rupert Murdoch Saves The Sun, But Crisis Could Move to America – The Daily Beast

by peterjukes

Claire Enders, a U.K. media analyst, points out that shareholders haven’t been overly concerned with the British scandal so far. Even the multimillion-dollar settlement to the Dowlers was a minor bump for a company with an annual profit of $2.7 billion. This fall Murdoch was overwhelmingly reelected as codirector of the News Corp. board. “I think [the Murdochs] take the U.S. stuff extremely seriously,” Enders said. “No one is going to kid themselves that what makes Rupert Murdoch and James Murdoch get up in the morning is their positions in the U.K. It’s how they are perceived in America that matters.”

The damage to James may already be done. In his efforts to avoid being implicated in the scandal, James told Parliament that he was unaware that phone hacking was widespread when he authorized a massive payment to settle Taylor’s suit. Yet a recently unearthed email chain shows that company officials had alerted James to the scale of the problem. James has since claimed that he didn’t fully read the emails. An upcoming parliamentary report into the testimony is expected to spell further trouble for him.

via Rupert Murdoch Saves The Sun, But Crisis Could Move to America – The Daily Beast.

Advertisements