From the New York Times:
A damning report on the hacking scandal at Rupert Murdoch’s British newspapers concluding that Mr. Murdoch is “not a fit person” to run a huge international company has convulsed Britain’s political and media worlds and threatened a core asset of Mr. Murdoch’s American-based News Corporation….
It said the use of illegal reporting methods and the efforts to thwart inquiries into the practice came from a culture that “permeated from the top throughout the organization and speaks volumes about the lack of effective corporate governance at News Corporation and News International,” its British newspaper subsidiary.
“We conclude, therefore, that Rupert Murdoch is not a fit person to exercise the stewardship of a major international company,” the report said.
OK. But like I said in the headline, any new News Corp. atrocities, recently?
Rupert haters have been saying this forever. That it took hacking the phone of a dead girl to bring this about shows how corrupt the company is. Yes, the fact that a government body comes out and says it shows it’s a big deal, but look at how the decision came about. When the members of Parliament voted on the language of the report, all of the Conservatives voted against the wording “is not a fit person to exercise the stewardship of a major international company,” and all the members of Labour and the Liberal Democrats voted for it. It’s a purely partisan vote. Labour wants the Tories to say that Rupert is a fit person to run a company. It’s a political hammer to use in the next round of elections. The Conservatives can’t say anything different because they’re in power because of Murdoch. And the Lib Dems, who have no credibility anymore since they shacked up with the Tories, are trying to get back into the good graces of their liberal constituencies by attacking an obvious target.
Bottom line, it the Brits really felt Murdoch was unfit to run an international company, they’d start taking apart his empire in the U.K. Keep track of how they deal BSkyB, the U.K. television network that News Corp. has a minority stake in. If they don’t take that away, they aren’t going to do anything.
And honestly, why should Rupert even care about what the Brits think? He already owns that country, and he’s got his sights set on bigger fish. His goal is to take over the political system in America, and he already owns one of the two major parties in the U.S. (When at one time you have most of a party’s potential major candidates for the presidency on your payroll, you own that party. Meanwhile, the people who make up the one he doesn’t own don’t have the balls to say he’s “unfit” because they’re terrified of him. If his fitness as a boss ever came to a vote in Congress, Rupert would win.
With overwhelming bipartisan support.
It’s fun to watch the New York Times fall over itself in its rapture over this development. Rupert has made it clear since he took over the Wall Street Journal that he wants to destroy America’s best newspaper. The sniping on both sides has been entertaining (remember the WSJ piece about feminine-looking men that used as part of an illustration the mouth of the New York Times’ publisher? That’s classic Rupert. Don’t think the Times was going to let that slide). After that, it seems, the publication hated by the right went into full “destroy that Aussie bastard” mode. So a couple of the world’s biggest elitists are busy bitch slapping each other. The Times is getting its shot now. Wait a few weeks and Rupert will come up with something better.
What tops it all off: News Corp. stock rose today after the report came out. How is this possible?
Investors think this is good news because they’re hoping it will force Murdoch to dump some unnecessary properties to focus on the core business and drive the stock price up.
Here’s what the Wall Street Journal said about that:
News Corp. shares rose 19 cents to $19.79 in Nasdaq Stock Market trading Tuesday. “To the extent the Murdochs are forced to run the company in a more investor-friendly manner,” investors are upbeat, said Maxim Group analyst John Tinker. He cited the potential to shift some power to Chief Operating Officer Chase Carey, who is popular with investors.
So what the Brits just did is literally add about a million dollars/pounds/euros to Rupert’s already fat bank account. Yeah, I’m sure he’s going to lose sleep over this.
(And by the way, just so I make myself clear: Rupert Murdoch is not a fit person to exercise the stewardship of a major international company.)
- News Corp shareholders must decide whether Rupert Murdoch really does value trust (telegraph.co.uk)
- Rupert Murdoch Is Unfit To Run Company, According To UK Lawmakers (inquisitr.com)
- British panel: Murdoch ‘not a fit person’ to lead News Corp. (blogs.ajc.com)
- Rupert Murdoch deemed ‘not a fit person’ to run international company (guardian.co.uk)
- Deeming Rupert Murdoch not ‘fit’ opens a partisan divide (latimesblogs.latimes.com)