Hays,
Being an innocent, why is Cameron referring the News Corporation to the Competition Board and why is Murdock withdraw it previous position of hiving off Sky News?
They are not trying to deals in smoke filled rooms.
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The question is, whether Murdock is an appropriate persons to be a chairman or CEO of any company.
Suggest you read the following:
I have cut and pasted a small amount. But you can read the whole article at::
http://www.guardian.co.uk/media/2011/jul/11/news-corp-shareholders-attack-murdoch
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News Corp investors attack Murdoch
Rupert Murdoch accused of 'egregious' behaviour for using firm as 'family candy jar' in lawsuit that claims it is 'inconceivable' he was unaware of phone hacking at News of the World
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guardian.co.uk, Monday 11 July 2011 17.28 BST
Article history
Rupert Murdoch, who has been accused of 'nepotism and corporate governance failures'. The lawsuit says: 'These revelations show a culture run amuck within News Corp and a board that provides no effective review'. Photograph: Sipa Press/Rex Features
A powerful group of News Corp's shareholders have accused Rupert Murdoch of "egregious" behaviour and treating his media empire like a "family candy jar".
The shareholder group, which includes banks and pension funds, accused Murdoch of "rampant nepotism" and using News Corp resources for "his own personal and political objectives".
The institutional shareholders, led by the Amalgamated Bank, said it was "inconceivable" that Murdoch would not have been aware of rampant phone hacking at the News of the World.
"It is inconceivable that [James] Murdoch and his fellow board members would not have been aware of the illicit news gathering practices. And yet, the board took no real action to investigate the allegations until 7 July 2011, when Murdoch selected two of his co-directors to deal with the imbroglio," the shareholders said in a legal filing in Delaware, where News Corp is registered.
"These revelations should not have taken years to uncover and stop," the filing adds. "[They] show a culture run amuck within News Corp and a board that provides no effective review or oversight."
The shareholders noted that Rebekah Brooks, chief executive of News International and editor of the News of the World at the time of the hacking, was "consistently promoted even while the scandal was unfolding".
The legal filing is an update to an earlier lawsuit against the appointment of Elisabeth Murdoch to News Corp's board following the $615m (383m) acquisition of her Shine Group production company.
"News Corp's behaviour has become an egregious collection of nepotism and corporate governance failures, with a board completely unwilling to provide even the slightest level of adult supervision," said Jay Eisenhofer, a Grant & Eisenhofer lawyer representing the shareholder group.