Tue, 05/01/2012 - 15:00 EDT - NPR - National Public Radio (Business News)
Parliament issued a damning report about Rupert Murdoch on Tuesday, accusing him of misleading lawmakers about the phone hacking scandal. They also asserted that he is not fit to run his vast corporation.» E-Mail This» Add to Del.icio.us
Rupert Murdoch "exhibited willful blindness" toward the illegal phone hacking that was rife at the News of the World tabloid and is "not a fit person" to head a major international company such as News Corp., a panel of British lawmakers said in a stinging report Tuesday.
By Andrew Wilkinson:
News Corp. (NWSA)
The hours of testimony provided by Rupert and James Murdoch to U.K. lawmakers today had a positive effect on shares in News Corp., which increased 5.8% to $15.84 after the questioning ended.
British lawmakers are to quiz police chiefs Tuesday amid reports that royalty and ex-prime minister Gordon Brown were targeted in a phone-hacking scandal that felled Rupert Murdoch's News of the World.Four past and present senior Scotland Yard officers were due to appear before a home affairs committee as the scandal spiralled and the government dealt a blow to Murdoch's bid for total control of satellite broadcaster BSkyB.
Rupert Murdoch's empire launched a fightback on Thursday after a mauling by British lawmakers, with satellite broadcaster BSkyB announcing large profits and insisting it is fit to hold a licence.A parliamentary committee said in a majority decision on Tuesday that Murdoch was "not a fit person" to run a global company because of his poor handling of the phone-hacking scandal at the News of the World newspaper.
A British court published a report Tuesday saying media tycoon Rupert Murdoch was "not a fit person" to run his company and guilty of "willful blindness" in a phone-hacking scandal that brought down his News of the World tabloid.
When Rupert Murdoch appeared confused and mentally fuzzy during testimony to Parliament's culture committee last summer, some observers accused him of playing up his age to breed sympathy and avoid answering tough questions.
If it was an act, it didn't work. The committee released the findings from its inquiry into the phone-hacking scandal Tuesday, and they are anything but sparing of the 81-year-old News Corp. chairman.