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Is this Armageddon for Murdoch and NewsCorp?

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 8:35

Morning Chris,


O.K.......showoff

On topic, NewsCorp has lost $700 million over the last 4 days, there is a suggestion in the States that Murdoch might withdraw his bid for bskyb

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 9:42

Just announced, a U.S,Senator is calling for a probe into the affairs of Newscorp. His name wasn"t given but this gets worse for Murdoch by the day.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  almostgothic on Wed 13 Jul - 10:27

Senator Jay Rockefeller.

http://www.thestatecolumn.com/articles/sen-jay-rockefeller-calls-for-hearing-on-rupert-murdoch-news-corp/

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 10:37

almostgothic wrote:Senator Jay Rockefeller.

http://www.thestatecolumn.com/articles/sen-jay-rockefeller-calls-for-hearing-on-rupert-murdoch-news-corp/

Aren"t you clever almostgothic, the Announcer didn"t name the Senator, thanks,


Rockefeller eh, that should have some clout...it"s probably because the CEO of Dow Jones is implicated and the S1 million cheque Murdoch
reputedly signed. Interesting times ahead, the U.S. won"t let this go and will probably dig up a can of worms.....excellent .!!!

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  margaret on Wed 13 Jul - 11:16

I'm pleased to hear he's going to be looked at in USA too.

Wouldn't like to be Rupert Murdoch! The old fella doesn't look healthy, this sort of stress could finish him off.


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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 11:28

margaret wrote:I'm pleased to hear he's going to be looked at in USA too.

Wouldn't like to be Rupert Murdoch! The old fella doesn't look healthy, this sort of stress could finish him off.


Apparently he is very fit, goes swimming every day. The U.S. will be far more efficient than the U,.K, and apparently they want to interview the CEO of Dow Jones, James Murdoch and Rebekah Brooks for starters.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 16:44

I think Murdoch had no option but to withdraw his bid because he knew with all the scandal he could be banned from having overall control. Also the share price of bskyb shares dropped substantially to about £7.50 so his bid of £9.75 was way over the top . I think if the U.S. probe into Newscorp he has more to worry about.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 17:00

Will News Corp face investigation in the US?





Posted by Samira Shackle - 13 July 2011 09:46













A Senator has called for practices of Murdoch's US journalists to be examined, raising the stakes for News Corp.








Senator Jay Rockefeller. Photograph: Getty Images















Jay Rockefeller, a key Democratic senator and chairman of the Senate
commerce committee, has called for the authorities to investigate
whether journalists at Rupert Murdoch's News Corporation targeted US
citizens. In a written statement, he said:
I encourage the appropriate agencies to investigate to ensure that Americans have not had their privacy violated.The
reported hacking by News Corporation newspapers against a range of
individuals -- including children -- is offensive and a serious breach
of journalistic ethics. This raises serious questions about whether the
company has broken US law.
Rockefeller is the first
significant figure in Congress to call for an investigation, and his
intervention adds weight to the growing ranks of pressure groups
demanding one.Jodi Seth, chairman of the Senate sub-committee on communications, told the Daily Telegraph that an inquiry is currently unlikely:
We're
keeping an eye on the situation, but are not planning on looking into
it at this time. For now, all that is certain is that there was hacking
in Britain, which is outside of our jurisdiction.
But as the pressure builds, this may change. The Daily Mirror has already claimed that News of the World
reporters attempted to bribe a New York police officer for access to
the phone records of victims of the September 11 attacks. If this is
substantiated, it will have far-reaching repercussions in the US.
Republican politicians in particular have close ties to Murdoch because
of his Fox News network, but it is unlikely that this would take
priority over their commitment to terror victims and war veterans.Despite
Seth's statement, the very public nature of the case might eventually
make it difficult for regulatory agencies to turn a blind eye, given the
emphasis they place on deterrence. Les Hinton, now chief executive of
Dow Jones in the US, was formerly head of News International and is
directly implicated in the case. Robert Thomson, editor of the Wall Street Journal, formerly edited the TimesIf the scandal continues to widen out from the News of the World, the suggestion that corrupt practices infected the whole company could make a US investigation inevitable. The Center for American Progress Action Fund, run by John Podesta, former chief of staff to Bill Clinton, is organising a petition on this basis, saying:
Although initial reports focused on the U.K. paper News of the World, recent reports suggest that this disturbing conduct extended to several other News Corp properties."Given
the seriousness of these allegations, we ask that you immediately begin
an investigation of all entities controlled by News Corp, including
domestic subsidiaries such as Fox News, The Wall Street Journal, and the New York Post.
Yet
another possibility is that the Security and Exchanges Commission
(SEC), a federal regulatory agency, will look into whether News Corp has
violated the Foreign Corrupt Practices Act, which makes it a crime for
any American-linked company to bribe foreign officials to obtain or keep
business. This could make action on UK soil -- such as paying police
officers or royal staff for information and contact details -- a
criminal offence in the US.Given that the vast majority of Murdoch's empire is made up of his US assets -- Fox News, the Wall Street Journal, the New York Post and 20th Century Fox -- this could be a catastrophic development for the company.









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Rupert Murdoch



Phone hacking scandal



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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  kitti on Wed 13 Jul - 17:29

I don't think the stress off the past few days will kill Im off.....can't say that about his YOUNG wife tho lol

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 17:35

kitti wrote:I don't think the stress off the past few days will kill Im off.....can't say that about his YOUNG wife tho lol

I think his Son James has more to worry about and the Americans will be getting info from Scotland Yard I"m sure.Perhaps Murdochs wife is banking on him feeling the strain.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Wed 13 Jul - 19:40

Just reporting on the American opinion. SEVERAL Senators have joined forces to demand an investigation into Newscorp. Apparently, many Democrats
have complained about Fox News and there is a possibility Murdoch will be called to account under U.S. AntiTrust Laws.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Angelique on Wed 13 Jul - 23:46

This is excellent news Panda -thank you for keeping us updated

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  widowan on Thu 14 Jul - 0:03

Seems like the Foreign Corrupt Practices Act raises its head - that or the SEC - when nothing else seems to be a fit!

This has been in the Wall Street journal all week. front page today and a second story on page 7 (the marketplace section) and on page 7 of the Houston Chronicle.

Neither has mentioned the 9/11 angle however, yet.

Murdoch will be scampering to get this dealt with while the worst they can say is that the papers engaged in dodgy practices and before the extent of those practices and who they were practiced on, and what that consists of, exactly, should bubble up to the top of this cess pool they've taken the lid off.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 0:11

Angelique wrote:This is excellent news Panda -thank you for keeping us updated

Hi Angelique, that"s why I have kept this thread seperate to the News International Thread, because this is NewsCorp which is registered in the
U.S. and to my mind is going to be Murdoch"s Armageddon more that News International. If you havn"t already done so, read through some of the posts,
especially the CEO of Dow Jones who the U.S. want to interview together with Rebekah Brooks and James and Rupert Murdoch.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 0:17

widowan wrote:Seems like the Foreign Corrupt Practices Act raises its head - that or the SEC - when nothing else seems to be a fit!

This has been in the Wall Street journal all week. front page today and a second story on page 7 (the marketplace section) and on page 7 of the Houston Chronicle.

Neither has mentioned the 9/11 angle however, yet.

Murdoch will be scampering to get this dealt with while the worst they can say is that the papers engaged in dodgy practices and before the extent of those practices and who they were practiced on, and what that consists of, exactly, should bubble up to the top of this cess pool they've taken the lid off.

Hi widowan,

the fact that the CEO of Dow Jones is to be interviewed is very telling, as is the cheque for $ 1 million that Murdoch is supposed to have written. I
think the U.S. will act much quicker than the U.K. because Newscorp is the main Company registered in the U.S.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  widowan on Thu 14 Jul - 0:23

The papers are spposedly to be profitable but News Corp is. I wouldn't have thought this would cast much of a shadow but when the stocks are in mutual funds and pension funds it does cause people to raise their heads.


What's the CEO of Dow Jones got to do with it at this point though? Did money change hands for an unfair valuation or the like, somewhere? Or -don't tell me the DJ is owned by NewsCorp too!

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 0:50

widowan wrote:The papers are spposedly to be profitable but News Corp is. I wouldn't have thought this would cast much of a shadow but when the stocks are in mutual funds and pension funds it does cause people to raise their heads.


What's the CEO of Dow Jones got to do with it at this point though? Did money change hands for an unfair valuation or the like, somewhere? Or -don't tell me the DJ is owned by NewsCorp too!


Insider Trading? I don"t know, but the fact that he is being asked to attend a Meeting is significant. In one of the discussions some analysts thought
NewsCorp should be broken up and the American Antitrust Laws could I suppose force Murdoch to comply because of the way he has no ethics

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 7:38

Calls Grow For US Inquiry Into Phone Hacking






7:29am UK, Thursday July 14, 2011
There are growing calls in the US Congress for an investigation into Rupert
Murdoch's News Corporation as shockwaves from the phone-hacking scandal continue
to reverberate.











The allegation that Murdoch's News International papers may have targeted
9/11 victims has prompted the calls from senior politicians.
In Washington, Democrat senator Jay Rockefeller urged an investigation into
whether parent company News Corporation had violated US law because of the
British paper's activities.
The allegation of hacking 9/11 victims comes from the Daily Mirror, which
quoted an anonymous source as saying an unidentified American investigator had
rejected approaches from unidentified journalists who showed a particular
interest in British victims of the terror attacks.
It cited no evidence that any phone had actually been hacked by the News Of
The World or any other paper.



Ex-PM Gordon Brown launched a stinging attack on the
newspaper group


If there was any phone hacking of Americans "the consequences will be
severe," Mr Rockefeller, chairman of the Senate Committee on Commerce, Science
and Transportation, said.
A report in The Wall Street Journal (WSJ), which is part of News Corp, said
Mr Murdoch met with advisers in recent weeks to discuss possible options,
including the sale of his remaining British newspapers.
The WSJ, citing unidentified people familiar with the situation, said there
didn't appear to be any buyers given the poor economics of the newspaper
group.
Meanwhile, some members of the Bancroft family that once controlled the WSJ
said they would have opposed selling the paper to Mr Murdoch in 2007 had they
known about the hacking allegations then.
"I probably would have held out," Christopher Bancroft said in a story
published by the non-profit group ProPublica and The Guardian.



Mr Murdoch's News Corp has seen its value plunge in a
week


The story was written by a former executive of WSJ publisher Dow Jones &
Co.
Meanwhile, politicians in Mr Murdoch's country of origin are also urging
action following the News Of The World phone hacking scandal.
Australia's government will consider a review of national media regulation
and laws, Prime Minister Julia Gillard has announced.
"I've truly been disgusted to see it. I anticipate that we will have a
discussion amongst parliamentarians about this, about the best review and way of
dealing with all of this," Ms Gillard told Australia's National Press Club.
The influential Greens Party, which controls the balance of power, has called
for Ms Gillard's government to hold an inquiry into whether a new statutory
media watchdog is required, with parliament to consider the issue in August.

READ MORE ON THIS STORY... the gutters to the
sewers".

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Chris on Thu 14 Jul - 7:44

widowan wrote:The papers are spposedly to be profitable but News Corp is. I wouldn't have thought this would cast much of a shadow but when the stocks are in mutual funds and pension funds it does cause people to raise their heads.


What's the CEO of Dow Jones got to do with it at this point though? Did money change hands for an unfair valuation or the like, somewhere? Or -don't tell me the DJ is owned by NewsCorp too!

Dow Jones (and the Wall Street Journal) was bought by NewsCorp in 2007. Les Hinton was formerly head of NI in the UK before Murdoch moved him over to the US.


Last edited by Chris on Thu 14 Jul - 8:22; edited 1 time in total

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 7:53

Morning Chris, reading this, it doesn"t seem as thought the 9/11 accusation of hacking is true.is true


The allegation of hacking 9/11 victims comes from the Daily Mirror, which
quoted an anonymous source as saying an unidentified American investigator had
rejected approaches from unidentified journalists who showed a particular
interest in British victims of the terror attacks.
It cited no evidence that any phone had actually been hacked by the News Of
The World or any other paper."

However, I am sure the Americans will do a thorough investigation of Newscorp even if Murdoch decides to sell his U.K. Newspapers.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Chris on Thu 14 Jul - 8:28

Panda wrote:Morning Chris, reading this, it doesn"t seem as thought the 9/11 accusation of hacking is true.is true


The allegation of hacking 9/11 victims comes from the Daily Mirror, which
quoted an anonymous source as saying an unidentified American investigator had
rejected approaches from unidentified journalists who showed a particular
interest in British victims of the terror attacks.
It cited no evidence that any phone had actually been hacked by the News Of
The World or any other paper."

However, I am sure the Americans will do a thorough investigation of Newscorp even if Murdoch decides to sell his U.K. Newspapers.

I am sure the there will be many claims about "possible" hacking (viz the list of 67 names). At the moment there has been no indication this practice continued after 2006 although that may simply be that so far the enquires are based upon one PI.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 9:00

I just wonder if News International and Newscorp had any idea that this story was going to break.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Guest on Thu 14 Jul - 9:40

Rupert Murdoch’s problems in the US have grown exponentially

by Sunny Hundal
July 14, 2011 at 8:30 am

Yesterday I reported that a US Senator had called for regulators to examine whether News Corporation had broken any laws. And there is chance he could have. Yesterday evening another Senator joined that list.

Now it has gotten much worse. And later today or tomorrow, we launch our own campaign with allies in the US to push for the SEC and the DOJ to look at whether News Corporation has broken any US laws.

By this morning the number of US Senators who want an enquiry into News Corporation stands at four.

The first was West Virginia Senator Jay Rockefeller. Then, New Jersey Senator Frank Lautenberg, who said in a statement:

The limited information already reported in this case raises serious questions about the legality of the conduct of News Corporation and its subsidiaries under the FCPA (Foreign Corrupt Practices Act). Further investigation may reveal that current reports only scratch the surface of the problem at News Corporation. Accordingly, I am requesting that DOJ and the SEC examine these circumstances and determine whether U.S. laws have been violated.

Then came California Senator Barbara Boxer, also asking whether News Corp broke the FCPA. And finally, New Jersey Senator Robert Menendez has asked the DOJ to investigate the alleged phone hacking of 9/11 victims.

The alleged phone-hacking of 9/11 victims is the most toxic one.

It has prompted even the first Republican figure (Representative Pete King) to demand an enquiry.

As I see it, I would expect more things to be coming out over the next several weeks. And as we approach 9/11, the tenth anniversary, it’s even going to get worse.

News Corporation could even face an FBI investigation – King has written to the FBI Director, demanding that journalists should face felony charges if the allegations are proven true.

There’s no guarantee the SEC, DOJ or FBI will open these investigations yet; that might require more public and political pressure.

http://liberalconspiracy.org/2011/07/14/rupert-murdochs-problems-in-the-us-have-grown-exponentially/

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  Panda on Thu 14 Jul - 9:55

I think a couple of Congressmen have joined the Senators and the U.S. is in dire straits financially so if shareholders suspect any manipulation of the share price they will make a formal complaint. Someone on the News this morning suggested Rebekah Brooks was being "protected " because Murdoch
is going to bid again in 6 months tome for bskyb.

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Re: Is this Armageddon for Murdoch and NewsCorp?

Post  the slave on Thu 14 Jul - 11:19

If Murdoch owns the Dow Jones and the Financial Times I think there's a fair bet that there has been some 'insider trading'.

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Re: Is this Armageddon for Murdoch and NewsCorp?

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