Labour MP Tom Watson attended the News Corp AGM today where he asked about fresh evidence that News Corp has been hacking computers as well as telephones. [BBC]
Murdoch's response was remarkably similar to the one he gave to the UK parliamentary committee. The same platitudes, the same promises to 'stop at nothing' to get to the bottom of the matter. Noticeably absent from the reports is a denial that Murdoch was aware of the criminal activities when they were being committed.
The hacking scandal has led to renewed concern about the peculiar News Corp share structure which gives Murdoch total control the company despite owning only 12% of the stock.
News Corp shareholders have seen remarkably little return in the years since Faux News was launched. $100 invested in News Corp in 1996 would have delivered a capital gain of $50 and a negligible sum in dividends. The same sum invested in the NASDAQ would have yielded over $100.
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