Re: Is this Armageddon for Murdoch and NewsCorp?

**Panda** 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.

**Angelique** Wed 13 Jul - 23:46

This is excellent news Panda -thank you for keeping us updated Is this Armageddon for Murdoch and NewsCorp? - Page 3 25346

**widowan** 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.

**Panda** 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.

**Panda** 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.

**widowan** 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!

**Panda** 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

**Panda** Thu 14 Jul - 7:38

Calls Grow For US Inquiry Into Phone Hacking

Comments

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.

Is this Armageddon for Murdoch and NewsCorp? - Page 3 16029967

Is this Armageddon for Murdoch and NewsCorp? - Page 3 16029967

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.

Is this Armageddon for Murdoch and NewsCorp? - Page 3 16029549

Is this Armageddon for Murdoch and NewsCorp? - Page 3 16029549

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".

**Chris** 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.

**Panda** 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.

**Chris** 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.

**Panda** Thu 14 Jul - 9:00

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

Guest 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/

**Panda** 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.

the slave 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'.

**Panda** Thu 14 Jul - 11:30

[quote="the slave"]If Murdoch owns the Dow Jones and the Financial Times I think there's a fair bet that there has been some 'insider trading'.
[/quote

I just finished watching a discussion about NewsCorp beteen Donald Yacktman of Yachtman Asset Management and a Studio Presenter about the allegation of hacking.Apparently there are 6 charges against Newscorp but Yacktman wasn"t fazed, said there might be a hiccup but he saw no reason to sell his shares.

So much for ethics then, money is God.

**Annabel** Thu 14 Jul - 12:13

http://www.anorak.co.uk/287094/news/rupert-murdoch-legs-it-news-international-stunna-caught-with-pants-down.html/ Is this Armageddon for Murdoch and NewsCorp? - Page 3 Murdoch

Is this Armageddon for Murdoch and NewsCorp? - Page 3 Murdoch

**Panda** Thu 14 Jul - 12:16

[quote="Annabel"]http://www.anorak.co.uk/287094/news/rupert-murdoch-legs-it-news-international-stunna-caught-with-pants-down.html/ Is this Armageddon for Murdoch and NewsCorp? - Page 3 Murdoch

[/quote

Annabel .....nice one/ Is this Armageddon for Murdoch and NewsCorp? - Page 3 23324

**Chris** Thu 14 Jul - 16:15

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

Murdoch's company owns the Times and Sunday Times. The Financial Times is part of the Pearson publishing group (Penguin books etc) and unrelated.

**Panda** Thu 14 Jul - 18:10

Latest News U.S. Lawmakers call for evidence of hacking in Newscorp and in particular 9/11

**widowan** Thu 14 Jul - 18:35

Chris wrote:
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.

They had a line up of senators on CNN last night - Barbara Boxer, Rockefeller and Menendez are all Democrats, I thought it was interesting (given that the WSJ is such a right wing paper) that no Republicans saw fit to be outraged by this. This is going to open a can of worms here because the WSJ has gotten worse in the last five years but especially since Obama was elected. Front page WSJ today "NEWSCORP Caves as Support Fades" article about the bsky b deal but then on page A 10

News Corp girds for battle as probes, lawsuits mount
newscorp battles a scandal that has skewered a multi billion dollar acquisition and closed a 168 year old paper, it is gearing up for a multi front legal battle against criminal investigations, civil litigation and government enquireies. The company has responded by hiring big-gun lawyers...legal team now inludes a former head of UK governement prosecution and a prominent Washington DC law firm Williams and Connolly LLP.
In addition, two of News Corps board members advising on issues both of whom were assistant attorneys general in the US government (NAMES?? you call yourself a journalist?)
News Corp is currently without permanent general counsel, following the resignation last month of its most senior lawyer who said he wanted to pursue new opportunities.

News Corps stratgy seems to be reputational management and damage limitation" says Sara George, a partner at Stephenson harwood law firm and former UK prosecutor - the most serious allegations are corruption, if the alleged wrong doing was part of corporate policy rather than the actions of an errant individual.

A handful of US lawmakers have called for probes asking for the Justice Detp, SEC and FBI to examine whether the company violated anti bribery or wiretapping laws.

There hasn't been any indication that the company would be prosecuted in either UK or the US anti bribery laws - such a prosecution would be difficult essentially requiring companies to prove that the "controlling mind" of the comapany, effectively the board, was party to any wrongdoing. People familiar with the matter say US authorities at this point aren't interested in bringing a case preferring to let the UK take the lead.NewCorp declined to comment. news Corp owns the WSJ and the New York Post....

The payments to police previously surfaced with NI CEO R Brooks former editor of NOTW and then the Sun. While editor of Sun in 2003 she told a parliamentary committee "we have paid the police for info in the past" without elaborating. In A[pril 2011 M Brooks said in a letter to lawmakers her intention was to comment on "a widely held belief" rather than suggest that she knew of specific cases.
----------------

They let her get away with that? She as CEO of the company has a BELIEF that this is what occurs? And that as long as she stays above it she isn't accountable?

What a bullshit, editorially spun, story this is in the Wall Street Journal. They have YET to bring up the possibility of US never miind 9/11 hacking, keep trying to pat people down that there is nothing much to see here, and don't give names and facts of who is going to be engaged in the cover up from the US side -- focusing on the "big guns" the News Corp people have on their side without naming any names, and nothing on the basis for the prosecution or investigation which will indeed occur- or the fact that no fewer than 5 US Senators were on CNN last night calling for criminal investigation here. They want to make this seem to be a UK issue only.

I'm sure it has nothing to do with their parent company's share price falling as this starts to come unglued. I hope the NY Times is doing better reporting what is going on. They have no one to protect but you can FEEL the hand of big brother in this story as to how it should be written.

**widowan** Thu 14 Jul - 18:53

News Corp also owns Fox so that completely right wing station will be reporting on this in quite a different way, what is good for big business and billionaires is good as far as Fox is concerned. There is NOTHING that happens that Fox doesn't spin in a pro-Republican way or try to lay at the door of Obama or the House Democrats. There's a half page story in WSJ that spendsfour columns talking about how all this is going to fade away and news corp will renew its bid after a 6 month cooling off period ( Ie DONT SELL your shares!!) and no fewer than three places where they say the NewsCorp spokesperson declined to comment or declined to make people available to comment but that NC invstors "reacted positively to the news" that NC might undergo dramatic restructuring and has "high hopes the company will take other shareholder friendly steps in lieu of the bskyb deal"

One analyst wrote they were "never a proponent" of the bskyb deal and "preferred that NC used its available capital to return money to the shareholders, particularly given the company's troubled history with M&A value creation"

There are then a few para's about Murdoch and how he was never considered (by some, because an outsider) the right person to own The Times of London or Sunday Times and how with 40% of the country's readership, politicians fought for his backing during elections. Bragging about how his papers could make or break elections, he has deeply divided British politics. They mention Gordon Brown and David Cameron both attending Brooks' wedding and how Cameron socializes with her and the NC people have "become the British establishment"

Some analysts feel his power has been declining, readership is down, his influence on the wane - the phone hacking scandal kicked this into higher gear-
--------------------------------------------------
well, doubtless with his waning influence this was a good time to get a dog pile going on him from both parties, and break this stranglehold on the electorate. Still nothing about what his people might have been doing in the US.

**widowan** Thu 14 Jul - 18:58

I have to laugh at the idea Murdoch was trying to create value thru M&A with these papers, he was trying to control an empire and basically decide how the world super powers would behave. So the papers aren't profitable? you can write that off as marketing.

I think we're seeing the decline of print media right in front of us and possibly the beginning of the end of someone telling US what the news is.

**Panda** Thu 14 Jul - 19:37

Just announced, the FBI is to investigate Newscorp , Fox News in particular .

SyFy Thu 14 Jul - 20:04

Panda wrote:Just announced, the FBI is to investigate Newscorp , Fox News in particular .

FBI 'to open' 9/11 victim phone hack investigation

The FBI is investigating reports that Rupert Murdoch's News Corporation sought to hack the phones of victims of the 9/11 terror attacks, reports say.

Reports of a criminal probe come as a growing group of senators and a senior Republican congressman have called for an investigation.

An FBI official told the BBC that reports of probe were "credible".

An FBI inquiry would be the first sign the phone hacking scandal has crossed the Atlantic, analysts say.

News Corporation, based in New York, is the parent company of News International, the UK firm at the centre of a growing scandal over phone hacking and payments to police officers.

News International has already closed tabloid newspaper the News of the World and pulled out of a huge takeover bid for the UK's largest pay-TV operator, BSkyB.

In addition, UK Prime Minister David Cameron has set up a judge-led inquiry into the allegations.

In Washington, senators this week asked authorities in the US to investigate amid allegations that the phones of victims of the September 11 attacks may have been hacked into by News of the World journalists. News International has not commented on the claims.

Democratic senators Jay Rockefeller and Barbara Boxer urged the attorney general and the Securities and Exchange Commission to investigate whether US laws had been broken.

Democratic Senator Robert Menendez, who wrote to the attorney general separately, said the claims newspapers sought to "exploit information about... personal tragedies for profit" needed to be probed.

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