News Corp. Stock Faces Uncertainty as More Scandals Emerge

LONDON — A top counterterrorism detective was found guilty Thursday of trying to sell information to a Rupert Murdoch tabloid, becoming the first person to be convicted on charges related to Britain’s phone-hacking scandal since a police investigation was reopened in early 2011. Detective Chief Inspector April Casburn was charged with misconduct for phoning the News of the World and offering to pass on information about whether London’s police force would reopen its stalled phone-hacking investigation.

News Corporation is making efforts to receive as high as possible payout from the $139 settlement of the litigation, which alleged that executives have damaged investors by giving to its chair Rupert Murdoch the right to use the company as “his personal fiefdom”, reported Financial Times.

It's hard to tell where the financial fallout of Rupert Murdoch's media woes could end. The phone-hacking scandal over British tabloid News of the World last week caused a whopping 15% drop in the company's stock price. The stock rebounded Wednesday, after Murdoch withdrew his bid for British broadcaster BSkyB in response to public backlash.

LOS ANGELES (AP) -- News Corp.'s stock rebounded on Wednesday after the media company said it is dropping its $12 billion bid for British Sky Broadcasting. Investors returned their focus to the company's ballooning cash balance, with hopes that it will shed ownership of all its U.K. newspapers as the company tries to contain damage from a phone-hacking scandal....