BAMCEF UNIFICATION CONFERENCE 7

Published on 10 Mar 2013 ALL INDIA BAMCEF UNIFICATION CONFERENCE HELD AT Dr.B. R. AMBEDKAR BHAVAN,DADAR,MUMBAI ON 2ND AND 3RD MARCH 2013. Mr.PALASH BISWAS (JOURNALIST -KOLKATA) DELIVERING HER SPEECH. http://www.youtube.com/watch?v=oLL-n6MrcoM http://youtu.be/oLL-n6MrcoM

Saturday, July 16, 2011

Murdoch goes to town with apology!Rupert Murdoch to say sorry in ad in UK newspapers; his aide Rebekah Brooks quits!

Murdoch goes to town with apology

LONDON: Media baron 
Rupert Murdoch on Saturday apologised unreservedly to the British public with a full-page advertisement in several newspapers for "serious wrongdoing" by one of his tabloids that engaged in illegal phone hacking, a day after two of his top executives quit over the scandal. 

After landing in London with his characteristic elan a week ago to deal with the crisis, 80-year-old Murdoch changed gears as the controversy threatened to spill over beyond Britain and affect his global media empire. 

Murdoch initially supported Rebekah Brooks -- who was head of his British operations and ex-editor of the now-closed News of the World tabloid, under whose editorship the phone of murdered teenager Milly Dowler was hacked -- but yesterday showed her the door. 

Another top Murdoch aide to resign was Les Hinton, chief executive of the media group's Dow Jones, who was head of News International from 1995 to 2007 and has worked with Rupert Murdoch for more than five decades. 

Hinton, the most senior executive to leave the conglomerate, said in a statement that he was "ignorant of what apparently happened" but felt it was proper to resign. 

In the advertisement published today, Murdoch said: "We are sorry for the serious wrongdoing that occurred... I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this". 

He added: "In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us".

Rupert Murdoch to say sorry in ad in UK newspapers; his aide Rebekah Brooks quits
LONDON: Rupert Murdoch will use advertisements in British national newspapers on Saturday to apologise for "serious wrongdoing" by his News of the World tabloid, News Internationalsaid. 

"We are sorry," states the advertisement in large black type on a white background -- a copy of which was provided by Murdoch's British newspaper operation. 

It is signed "Sincerely, Rupert Murdoch". 

The advert will run in his Sun and Times newspapers. It will also run in the rival Daily Mail, Daily Telegraph, Financial Times and Independent, as well as in the Guardian, the newspaper that helped break the scandal. 

In smaller letters under the heading, the apology reads: "The News of the World was in the business of holding others to account. It failed when it came to itself. 

"We are sorry for the serious wrongdoing that occurred. We are deeply sorry for the hurt suffered by the individuals affected. 

"We regret not acting faster to sort things out. 

"I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this. 

"In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us." 

Murdoch on Friday met the parents of Milly Dowler, a 13-year-old British murder victim whose phone was allegedly hacked by the paper, reports said. 

When news emerged on July 4 that Dowler was among the victims it set the touchpaper under the crisis, which on Friday led to the resignation of News International chief executive Rebekah Wade

A second ad will run in ten major British newspapers and in the Murdoch-owned Wall Street Journal Europe on Sunday and Monday outlining steps taken by News International to "investigate, address and compensate previous wrongdoings". 

It will also set out practices to "prevent these serious problems from reoccurring," the company said in a statement. 

The company released the advert hours after News International chief executive Rebekah Brooksresigned following intense pressure over the scandal. 

Father and son split on tactics in Murdoch family drama

Rupert Murdoch's News Corporation announced on Wednesday that it was withdrawing its $12 billion bid to buy complete control of the satellite giantBritish Sky Broadcasting, a move intended to calm the torrent of derision directed at the company since journalists at its British newspapers were implicated in a widespread phone-hacking scheme. 

Whether or not the announcement will give the company any respite from the growing indignation and official investigations, it seems to have already altered not only the dynamics within one of the world's most powerful and profitable media companies but also, possibly, the future of the newspaper business within the News Corporation. 

The decision to withdraw the bid for BSkyB, as the satellite broadcaster is known, was made as a contentious family drama played out in recent days. James Murdoch, a leading contender to replace his father as chairman and the driving force behind the News Corporation's bid to take over BSkyB, argued that the company should press for regulatory approval of the deal, said three people with knowledge of the discussions who declined to be identified because they were revealing confidential company deliberations. 

But Rupert Murdoch and the News Corporation's chief operating officer, Chase Carey, overruled the younger Mr. Murdoch, consulting him only after the decision was all but final. 

The deal to buy the remaining 61 percent of BSkyB that it did not own was the single biggest ever attempted in the long history of the News Corporation, and the withdrawal is perhaps the most significant setback of Rupert Murdoch's career. Yet Mr. Murdoch is said to remain hopeful that the transaction is salvageable. One person involved in the discussions said that the News Corporation chairman saw the withdrawal as a way to mollify his critics while waiting for the anger to die down. 

"Rupert is thinking long term here, I don't think he believes this deal is dead," said this person, who did not want to be named while discussing confidential matters. "He's just looking for ways to relieve pressure for the moment, to give this some breathing room. He fundamentally believes News Corp. can bounce back." 

In a statement released Wednesday, the News Corporation acknowledged that the mood in Britain had become too hostile to pursue the BSkyB purchase. "We believed that the proposed acquisition of BSkyB by News Corporation would benefit both companies, but it has become clear that it is too difficult to progress in this climate," Mr. Carey said. But in its statement, the company said it reserved the right to make another bid. 

The announcement is particularly fraught for James Murdoch, who ran BSkyB from 2003 to 2007. He has been the principal champion of the BSkyB purchase within the News Corporation, pressing both his father and the company's board to go along with the deal. With BSkyB reporting to James, who runs the News Corporation's European and Asian operations, the businesses in his portfolio would account for half of all the News Corporation's revenue. 

But the revelations of phone hacking in Britain have pulled James Murdoch in deeper by the day, with questions swirling in Parliament and the British press over his role in paying settlements to victims of the hacking. 

Only a week ago, the News Corporation hoped to contain the damage by taking another dramatic and once unthinkable step: shutting down the 168-year-old News of the World, which Mr. Murdoch purchased in 1969 to form the foundation for his British media empire. But a series of disclosures badly damaged the newspaper, most notably its acknowledgment that it had illegally intercepted the voice mail of Milly Dowler, a 13-year-old girl abducted and murdered in 2002. 

Since then, virtually every day has brought dizzying new disclosures and speculation, culminating in the News Corporation's announcement on Wednesday. Allegations of hacking and other journalistic dirty tricks have spread to other Murdoch papers in Britain, including The Sun and The Sunday Times. 

Rupert Murdoch, who had flown to London to deal with the crisis, arrived at the company's offices around 11 a.m., looking grim. Mr. Carey was also seen entering the building.

Murdoch may shut down all British newspapers: Report

LONDON: Rupert Murdoch is reportedly considering the option of dispensing with the News International, the group that owns his British newspapers - The Sun, The Times and the Sunday Times, a media report said. 

The media mogul discussed this possibility when he met his "inner circle" Wednesday, the Daily Express reported Thursday. 

Sources said Murdoch was "locked in a series of meetings" to specifically consider the option, following the closure of the 168-year-old News of the World

They said Murdoch was concerned to protect the reputation of the parent News Corporation from further damage after the value of its shares went down. 

While one said "Murdoch has the ruthlessness to amputate the arm that is threatening the rest of News Corporation," another said a sale was now a "live possibility". 

Murdoch's American newspaper The Wall Street Journal also reported he was now examining selling News International. 

"News Corp has informally explored whether there were any potential buyers for its UK newspaper unit," it said. 

Selling News International could fetch about 300 million pounds (around $484 million). 

Rupert Murdoch's public acts of contrition

Meeting with Milly Dowler's family and full-page apologies in newspapers mark a sharp reversal for News Corp founder

Murdoch apologises for phone hacking
National newspapers run full page ads with an apology from Rupert Murdoch for the phone hacking scandal. Photograph: Andy Rain/EPA

Full-page apologies in national newspapers, the departure of two of his most trusted lieutenants and a face-to-face meeting with the family of murdered teenager Milly Dowler herald a fresh tack in Rupert Murdoch's campaign to get a grip on the phone-hacking crisis.

The News Corp founder met the Dowler family on Friday at a London hotel in a bid to repair the damage of an extraordinary two weeks.

After the meeting, the family's solicitor said Murdoch had apologised profusely and told how he was "appalled" by allegations that not only was their daughter's phone hacked by the now defunct News of the World but voicemails were deleted to make way for new messages, giving the family false hope that she might still have been alive.

"He apologised many times. I don't think anybody could have held their head in their hands so many times. He said: 'Sorry, this should never have happened,'" said Mark Lewis, the Dowler family's lawyer.

Murdoch told the Sun: "It was a totally private meeting. As founder of the company I was appalled to find out what had happened and I apologised."

The meeting came hours after News International chief executiveRebekah Brooks resigned and before the surprise departure of Wall Street Journal boss Les Hinton, Murdoch's most trusted lieutenant.

The Observer columnist Peter Preston on Saturday told the BBC that Murdoch was quite making a public and quite calculated act of contrition before his appearance at the Commons culture, media and sport select committee.

Whatever his motivation it marks a considerable volte-face for the 80-year-old who only two days ago went on the offensive pronouncing he had handled the crisis "extremely well in every way possible".

In an interview with the Wall Street Journal on Friday he went on the attack, claiming the damage to the company was "nothing that will not be recovered" and that only "minor mistakes" had been made in the last fortnight.

Now it's a different story – contrition is the order of the day. The Mirror picks up on his meeting with the Dowlers in a front-page story headlined: "Shamed Murdoch FINALLY says sorry over Milly."

In adverts across national newspapers on Saturday, Murdoch makes an abject apology, saying: "We regret not acting faster to sort things out."

He apologises for the "hurt suffered by the individuals affected" and promises that further amends are on the cards.

"I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in a society. We need to live up to this.

"In the coming days we will take further concrete steps to resolve these issues and make amends for the damage they have caused. You will hear more from us."

Phone hack probe: Rupert Murdoch defies UK Parliament
LONDON: Media titan Rupert Murdoch and his son James refused Thursday to appear in public next week before a parliamentary committee investigating phone hacking and bribery by employees of their British media empire, whose chief executive said that she would address the committee. 

The chairman of the Culture, Media and Sport committee said it had issued summonses to the Murdochs but it was unclear if Rupert Murdoch could be compelled to testify because he is a US citizen. 

In a letter to the committee, James Murdoch, the chief of his father's European and Asian operations, offered to appear in August. 

Rupert Murdoch said he would appear before a separate inquiry initiated by Prime Minister David Cameron and led by a judge, and was willing to discuss alternative ways of providing evidence to parliament. 

News International chief Rebekah Brooks, a British citizen, said that she would appear Tuesday, chairman John Whittingdale said. He said he especially wanted to question James Murdoch. 

"He has stated that parliament has been misled by people in his employment," Whittingdale said. "We felt that to wait until August was unjustifiable." 

Meanwhile, the criminal investigation into the Murdoch empire widenened as the former deputy editor of the News of the World was arrested by detectives probing phone hacking at the defunct tabloid. 

Metropolitan Police said Neil Wallis, deputy editor under Andy Coulson from 2003 to 2007, was arrested on suspicion of conspiring to intercept communications. 

Police have so far arrested seven people for questioning in their investigation of phone hacking and two others in a separate investigation of alleged bribery of police officers. No one has been charged. 

Coulson, Cameron's communications director from 2007 until January this year, was arrested on July 8. 

Deputy Prime Minister Nick Clegg said Murdoch had big questions to answer about the accusations of eavesdropping and police bribery at his British papers, which have forced the media titan to drop his bid to take full control of British Sky Broadcasting. 

"If they have any shred of sense of responsibility or accountability for their position of power, then they should come and explain themselves before a select committee," Clegg said in an interview with BBC radio. 

Brooks was editor of News of the World in 2002 at the time of the most damaging allegation so far, that the paper hacked into the phone of teenage murder victim Milly Dowler in 2002 and may have impeded a police investigation into the 13-year-old's disappearance. 

Brooks has said she was unaware of any phone hacking at the time. 

Murdoch's hope of making BSkyB a wholly owned part of his News Corp. empire collapsed on Wednesday in the face of what Cameron called a "firestorm" that has engulfed media, police and politicians. 

Cameron has appointed a judge for a wide-ranging inquiry into the News of the World scandal and wider issues of media regulation, the relationship between politicians and media and the possibility that illegal practices are more widely employed in the industry. 

"It clearly goes beyond News International," Clegg said. "It is clearly something much more systemic," Clegg said. "I don't think we should allow ourselves to believe that it is just because of the Murdochs, or Rebekah Brooks, or it's all about one commercial transaction, however significant." 

Shares in BSkyB opened higher in London on Thursday but retreated toward noon to trade down 0.6 percent at 701.5 pence ($11.30). The shares closed higher on Wednesday for the first time since they began falling sharply last week amid fresh phone hacking allegations.


July 16, 2011

Rupert Murdoch Apologizes to Phone Hacking Victims

Newspapers at a news vendor in central London, with the advertisement apology for News International, July 16, 2011
Photo: AP
Newspapers at a news vendor in central London, with the advertisement apology for News International, July 16, 2011. News Corporation chairman Rupert Murdoch signed the company advert entitled "We are sorry", which appears in British national newspapers.

Media tycoon Rupert Murdoch has published an apology in the British press to the victims of the News of the World phone-hacking and police bribery scandal.

A letter signed by Murdoch and published Saturday says he and his international media conglomerate News Corporation are sorry "for the serious wrongdoing that occurred" and the "hurt suffered" by those affected by some of his journalists' widespread phone-hacking and payments to police for information.

The apologies come after Les Hinton resigned from his post at the head of the U.S. media group Dow Jones Friday in the wake of the scandal.

Dow Jones is owned by Murdoch's News Corporation.  But Hinton's resignation is tied to his previous role overseeing News Corporation's British newspapers, including News of the World, while journalists there illegally accessed cell phone conversations.

In a staff memo announcing his departure, Hinton apologized to those hurt by the News of the World journalists' actions, though he said he had been ignorant of what was going on at the time.

Hinton's resignation came just hours after Rebekah Brooks, a former News of the World editor who currently oversees News Corporation's British newspapers, also stepped down.

Murdoch shut down News of the World last week.  The firestorm over the scandal also has forced Murdoch to abandon efforts to push through a multi-billion-dollar bid for British Sky Broadcasting, a satellite television company.

As News Corporation announced the public apology, the 80-year-old Murdoch visited at a London hotel with the parents of Milly Dowler, a 13-year-old British murder victim whose phone was hacked by News of the World. A lawyer for the family described Murdoch as "very humbled" and "very shaken" as he offered his apology.

Brooks has agreed to testify before the British parliament next week about the phone-hacking and police bribery scandal. Murdoch and his son, James, who heads News Corporation's international operations, will also testify before parliament next week, after initially refusing to do so.

In the U.S., the Federal Bureau of Investigation has begun a probe into whether News Corporation employees tried to hack into the phones of victims of the September 11, 2001 terrorist attacks and their families, or tried to bribe police for information.

U.S. Attorney General Eric Holder told reporters in Australia Friday the Justice Department has received a number of requests from lawmakers to look into the allegations involving News Corporation, and is "progressing in that regard" through the appropriate law enforcement agencies.

Murdoch's company has several lucrative news and entertainment outlets in the U.S., including the country's top business newspaper, The Wall Street Journal, and a major television news outlet, Fox News Channel.

Some information for this report was provided by Reuters.

Related Articles

PM defended over News International links

Rupert MurdochRupert Murdoch's printed apology promises further steps "to make amends for the damage caused".

Foreign Secretary William Hague has defended David Cameron, saying he was "not embarrassed" by the extent of the PM's dealings with News International.

Mr Cameron has met its top executives 26 times in the 15 months since he became prime minister, it emerged.

Mr Hague defended the PM's decision to entertain Andy Coulson after the latter quit as an aide over the News of the World phone-hacking scandal.

In press ads, Rupert Murdoch apologises for "serious wrongdoing" by the paper.

A list of engagements released by Downing Street shows that Rebekah Brooks, who quit as News International chief executive on Friday, had been entertained at the prime minister's official residence Chequers in June and August last year.

News International chairman James Murdoch also attended Chequers in November.

There were further social meetings between Mr Cameron, and James Murdoch and Mrs Brooks, last December.

Mr Coulson stayed at Chequers in March this year, two months after he quit as Downing Street director of communications following fresh allegations of phone hacking under his editorship at the News of the World.

"In inviting Andy Coulson back, the prime minister has invited someone back to thank him for his work - he's worked for him for several years - that is a normal, human thing to do," Mr Hague told BBC Radio 4's Today programme. "I think it shows a positive side to his character."

Mr Coulson was arrested last week as part of the police inquiry into phone hacking.

Regarding Mr Cameron's meetings with various News International executives, Mr Hague said: "I don't think that would be very different from previous prime ministers.

"Personally I'm not embarrassed by it in any way - but there is something wrong here in this country and it must be put right. It's been acknowledged by the prime minister and I think that's the right attitude to take."

'Lack of judgement'

Labour's Lord Prescott accused Mr Cameron of being "very much wrapped into the Murdoch operations".

Shadow culture secretary Ivan Lewis said the disclosure of the list of engagements offered "yet more evidence of an extraordinary lack of judgement by David Cameron".

Rupert Murdoch's apology letterThe apology letter appeared in several Murdoch papers and other titles

"He hosted Andy Coulson at Chequers after, in the prime minister's own words, Mr Coulson's second chance hadn't worked out.

"David Cameron may think that this is a good day to bury bad news but he now has an increasing number of serious questions to answer."

Rupert Murdoch has taken out full-page advertisements in several newspapers on Saturday, using the space to say: "We are sorry for the serious wrongdoing that occurred."

The printed apology expresses regret for not acting faster "to sort things out".

"I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this.

"In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us," says the statement, signed "sincerely, Rupert Murdoch".

MPs' questions

Rupert and James Murdoch and Mrs Brooks are due to appear in front of the Commons media select committee on Tuesday to answer MPs' questions on the hacking scandal.

Mrs Brooks was editor of News of the World between 2000 and 2003, during which time the phone belonging to murdered schoolgirl Milly Dowler was tampered with.

As well as her resignation, senior News Corporation executive Les Hinton quit on Friday.

Mrs Brooks has been replaced by Tom Mockridge, who was in charge of News Corporation's Italian broadcasting arm.

In a resignation statement, Mrs Brooks said she felt a "deep responsibility for the people we have hurt".

Mr Cameron said through a spokesman that her resignation was "the right decision".

Mr Hinton, chief executive of the media group's Dow Jones, said in a statement that he was "ignorant of what apparently happened" but felt it was proper to resign.

The most senior executive to leave the conglomerate, Mr Hinton was previously head of News International from 1995 to 2007 and has worked with Rupert Murdoch for more than five decades.

On Friday, Rupert Murdoch apologised to Milly Dowler's family at a meeting in London.

The family's solicitor Mark Lewis said the newspaper boss looked very shaken up and upset during the talks, which were arranged at short notice.

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    Comment number3.

     

    Cameron has released his meetings with news international.... like he said he would, and it shows us nothing more than we already know. I personally would like to see all the party leaders over the last 10 years to see how many times they met with news international representatives, before we get all this hypocritical Cameron bashing by Labour, i'm damn sure Clair will have a smiliar record to DC.

  •  
    0

    Comment number2.

     

    Who paid/pays for the hospitatlity at Chequers particularly for Coulson, who the PM says is a friend?

  •  
    +2

    Comment number1.

     

    On a side note to all of this, what about the technology that makes all of this phone hacking possible? Are not the mobile phone companies culpable to a degree for not safeguarding our answer phone services?

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    A 44-year-old grandmother is named as one of the three patients whose deaths at a Stockport Hospital are being investigated by police.

Rupert Murdoch 'sorry' in newspaper adverts

Rupert MurdochRupert Murdoch's apology promises further steps "to make amends for the damage caused".

National newspapers are running a full-page advert with a signed apology from Rupert Murdoch over "serious wrongdoing" by the News of the World.

The advert states: "We are sorry for the serious wrongdoing that occurred."

Rebekah Brooks, a former editor of the paper, and senior News Corporation executive Les Hinton both resigned on Friday over the phone-hacking scandal.

The printed apology expresses regret for not acting faster "to sort things out".

"I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this.

"In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us", says the statement, signed "sincerely, Rupert Murdoch".

In other developments:

  • Downing Street revealed that former News of the World editor Andy Coulson stayed at Mr Cameron's official residence Chequers in March, after he resigned from his job as Director of Communications in Downing Street. Mr Coulson was arrested last week as part of the police inquiry into phone-hacking.
  • A list of Mr Cameron's guests at his country retreat showed that he was visited there twice by Mrs Brooks, in June and August last year, as well as once in November by News International chairman James Murdoch and his wife Kathryn.
  • Former deputy prime minister Lord Prescott says Rupert Murdoch is "desperately" trying to save his company, and "ditching everybody else in the process". He said his apology changed nothing and only came about because he is going to be asked questions about his record by MPs next week.
  • The actor Jude Law is suing The Sun newspaper for alleged phone hacking. He's launched legal proceedings over four articles published in 2005 and 2006. A spokesperson for News International called the news "a deeply cynical and deliberately mischievous attempt to draw The Sun into the phone-hacking issue."
Rupert Murdoch's apology letterThe apology letter appeared in several Murdoch papers and other titles

Mrs Brooks is expected to appear alongside Rupert and James Murdoch in front of the Commons media select committee on Tuesday to answer MPs questions on the hacking scandal.

She was editor of News of the World between 2000 and 2003, during which time the phone belonging to murdered schoolgirl Milly Dowler was tampered with.

In a statement resigning as chief executive of News International, she said she felt a "deep responsibility for the people we have hurt".

She said she wanted to "reiterate how sorry I am for what we now know to have taken place".

Her statement went on: "I have believed that the right and responsible action has been to lead us through the heat of the crisis. However my desire to remain on the bridge has made me a focal point of the debate.

"This is now detracting attention from all our honest endeavours to fix the problems of the past."

Mrs Brooks, 43, who had been with News International for 22 years, bowed to the international pressure piling up on the company.

Prime Minister David Cameron said through a spokesman that her resignation was "the right decision".

She has been replaced by Tom Mockridge, who was in charge of News Corporation's Italian broadcasting arm.

Les Hinton, chief executive of the media group's Dow Jones, was head of News International from 1995 to 2007 and has worked with Rupert Murdoch for more than five decades.

Mr Hinton, the most senior executive to leave the conglomerate, said in a statement that he was "ignorant of what apparently happened" but felt it was proper to resign.

Also on Friday, Rupert Murdoch apologised to Milly Dowler's family at a meeting in London.

The family's solicitor Mark Lewis said the newspaper boss looked very shaken up and upset during the talks, which were arranged at short notice.

He said the Dowlers were surprised his son James Murdoch did not attend and called on the News International chairman to "take some responsibility" in the affair.

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News Corporation

From Wikipedia, the free encyclopedia
News Corporation
Type Public company
Traded as ASXNWS ASXNWSLVNASDAQNWSNASDAQNWSA
IndustryMedia conglomerate
FoundedAdelaide, Australia (1979)[1][2]
Founder(s)Rupert Murdoch
Headquarters1211 Avenue of the Americas
New York City 10036
United States
Area servedWorldwide
Key peopleRupert Murdoch
(Chairman & CEO)
Chase Carey
(President & COO)
ProductsFilms, Television, Cable Programming, Satellite Television, Magazines, Newspapers, Books,Sporting Events, Websites
Revenueincrease US$ 32.778 billion (2010)[3]
Operating income increase US$ 3.703 billion (2010)[3]
Net income increase US$ 2.539 billion (2010)[3]
Total assets increase US$ 54.384 billion (2010)[3]
Total equity increase US$ 25.113 billion (2010)[3]
Employees51,000 (2010)[4]
Subsidiaries List of acquisitions
Websitenewscorp.com
1211 Avenue of the Americas(Sixth Avenue), where News Corporation is based

News Corporation (NASDAQNWSNASDAQNWSAASXNWS,ASXNWSLV), often abbreviated to News Corp., is the world's second-largest media conglomerate (behind The Walt Disney Company) as of 2010 in terms of revenue, and the world's third largest in entertainment as of 2009,[5][6][7][8] although the BBC remains the world's largest broadcaster.[9][10][11] The company's Chairman & Chief Executive Officer isRupert Murdoch.

News Corporation is a publicly traded company listed on the NASDAQ, with secondary listings on the Australian Securities Exchange. Formerly incorporated in South Australia, the company was re-incorporated under Delaware General Corporation Law after a majority of shareholders approved the move on 12 November 2004. At present, News Corporation is headquartered at 1211 Avenue of the Americas (Sixth Ave.), in New York City, in the newer 1960s–1970s corridor of the Rockefeller Center complex.

Contents

 [hide]

[edit]History

News Corp was created in 1979 by Rupert Murdoch as a holding company for News Limited. News Limited was created by Murdoch from the assets he inherited in 1952 following the death of his father, Sir Keith Murdoch, and subsequent expansion. The main asset left to him was ownership of the Adelaide afternoon tabloid, The News. News Limited operates today as News Corporation's Australian brand, operating out ofSurry Hills, in Sydney.

[edit]Moving into the United States

News Ltd. made its first acquisition in the United States in 1973, when it purchased the San Antonio Express-News. Soon afterwards it founded the National Star, a supermarket tabloid, and in 1976 it purchased the New York Post.

In 1981 News Corp bought half of the movie studio 20th Century Fox, buying the other half in 1984. In 1985 News Corp announced it was buying the Metromedia group of stations, setting the stage for the launch of a fourth U.S. commercial broadcasting television network. On 4 September 1985, Murdoch became a naturalized citizen to satisfy the legal requirement that only United States citizens could own American television stations. In 1986, the Metromedia deal closed, and the Fox Broadcasting Company was launched. This network, known on-screen as "Fox", can now be picked up in over 96% of U.S. households.

[edit]Expansion and consolidation

In 1986 and 1987, News Corp (through subsidiary News International) moved to adjust the production process of its British newspapers, over which the printing unions had long maintained a highly restrictive grip.[12] A number of senior Australian media moguls were brought into Murdoch's powerhouse, including John Dux, who was managing director of the South China Morning Post. This led to a confrontation with the printing unions NGA and SOGAT. The move of News International's London operation to Wapping in the East End resulted in nightly battles outside the new plant. Delivery vans and depots were frequently and violently attacked.[12] Ultimately the unions capitulated.

By 1992, News Corp had amassed huge debts, which forced it to sell many of the American magazine interests it had acquired in the mid-1980s to K-III Communications, as well spinning off long held Australian magazines interests as Pacific Magazines. Much of this debt came from its stake in the Sky Television satellite network in the UK, which incurred massive losses in its early years of operation, which (like many of its business interests) was heavily subsidised with profits from its other holdings until it was able to force rival satellite operator BSBto accept a merger on its terms in 1990. (The merged company, BSkyB has dominated the British pay-TV market since.)

In 1993 News Corp acquired a 63.6% stake of the Hong Kong-based STAR TV satellite network for over $500 million, followed by the purchase of the remaining 36.4% in July 1995.[13][14] Murdoch declared that:[15]

"(Telecommunications) have proved an unambiguous threat to totalitarian regimes everywhere ... satellite broadcasting makes it possible for information-hungry residents of many closed societies to bypass state-controlled television channels."

In 1995, the Fox network became the object of scrutiny from the FCC when it was alleged that its Australian base made Murdoch's ownership of Fox illegal. The FCC, however, ruled in Murdoch's favor, stating that his ownership of Fox was in the public's best interests. It was also noted that the stations themselves were owned by a separate company whose chief shareholder was U.S. citizen Murdoch, although nearly all of the stations' equity was controlled by News Corp. In the same year News Corp announced a deal with MCI Communications to develop a major news website as well as funding a conservative news magazine, The Weekly Standard. In the same year, News Corp launched theFoxtel pay television network in Australia in a partnership with Telstra and Publishing and Broadcasting Limited.

In 1996, Fox established the Fox News Channel, a 24-hour cable news station to compete against Ted Turner's rival channel CNN.

In 1999, News Corp significantly expanded its music holdings in Australia by acquiring the controlling share in a leading Australian based label, Michael Gudinski's Mushroom Records; merging it with already held Festival Records to create Festival Mushroom Records (FMR). Both Festival and FMR were managed by Rupert Murdoch's son James Murdoch for several years.

Also in 1999, The Economist reported that News Corps paid comparatively lower taxes and Newscorp Investments specifically had made £11.4 billion ($20.1 billion) in profits over the previous 11 years but had not paid net corporation tax. It also reported that after an examination of the available accounts, Newscorp could normally have been expected to pay corporate tax of approximately $350 million. The article explained that in practice the corporation's complex structure, international scope and use of offshore tax havens allowed News Corporation to pay minimal taxes.[16][17]

[edit]Development since 2000

In late 2003, News Corp acquired a 34% stake in DirecTV Group (formerly Hughes Electronics), operator of the largest American satellite TV system, from General Motors for US $6 billion. DirecTV Group was sold to Liberty Media in 2008 in exchange for its holding in News International.

In 2007 News Corporation reached an agreement to purchase Dow Jones, publishers of The Wall Street Journal, for an estimated $5.6 billion. On 15 October 2007 the corporation spun off a business news channel from Fox News—Fox Business Network.[18] The channel's lawyers were "reviewing all of the fine details of the contract" between Dow Jones and CNBC, said Alexis Glick, Fox Business Network's vice president of business news and the channel's morning anchor. But, she added, "we will actively use" the other Dow Jones properties.[19]"...this new channel is a bit tedious. Somehow, business is more interesting when treated in a business-like way", commented Rob Carrick in 16 October's Toronto Globe and Mail.[20] On 8 February 2007, Murdoch promised guests at the McGraw-Hill Media Summit that, "a Fox channel would be more business-friendly than CNBC. That channel leap[s] on every scandal, or what they think is a scandal", he said.[21]

In 2009, News Corp established NewsCore, a global wire service set up to provide news stories to all of News Corp's journalistic outlets.[22]

In 2010 due to the Fijian government's requirement that the country's media outlet must be 90% owned by Fiji nationals, News Corporation sold 90% of their stake in their Fijian newspapers (Fiji TimesNai Lalakai, and Shanti Dut) to Motibhai Group of Companies.[23]

On July 13, 2011, Rupert Murdoch announced that the company would not bid for control of BskyB due to concerns relating to the News of the World phone hacking affair[24]

[edit]Shareholders

  • In August 2005 the Murdoch family owned only about 29% of the company. However, nearly all of these shares were voting shares, and Rupert Murdoch retained effective control of the company. Nonetheless, John Malone of Liberty Media had built up a large stake, with about half of the shares being voting shares. Therefore, in November 2006, News Corporation announced its intention to transfer its 38.5 per cent managing interest in DirecTV Group to John Malone's Liberty Media; in return it bought back Liberty's 16.3% shares in News Corp., giving Murdoch tighter control of the latter firm.[25] Murdoch sold 17.5 million class A shares in December 2007.[26]
  • Years after when Elektra Records was absorbed in 2004, News Corporation owned half of the re-issues from the record label company.

[edit]Annual conference

News Corporation organises an annual management conference, discussing media issues related to geopolitics. Attendees include News Corporation executives, senior journalists, Politicians and Celebrities. Previous events were in Cancun, Mexico, and the Hayman Island off the coast of Australia. The events are private and secretive, there are no records available for the agenda or talks given at the conferences, and no uninvited journalists are permitted access.[30]

The 2006 event in Pebble Beach, California was led by Rupert Murdoch. According to a copy of the agenda leaked to the Los Angeles Timesand other media accounts,[31] issues discussed related from Europe to broadcasting and new media, terrorism to the national policy.[32] The event included speeches from Rupert Murdoch, Governor Arnold Schwarzenegger, former British Prime Minister Tony BlairBonoAl Gore, Senator John McCain and Bill Clinton while Israel's President, Shimon Peres, appeared on a panel named "Islam and the West". Other notable attendees included Newt Gingrich and Nicole Kidman.

[edit]Political donations

[edit]Republican Governors Association

In anticipation of the 2010 elections, News Corp. donated $1 million to the Republican Governors Association in June 2010. The move was criticized by Democrats who said this was evidence of News Corp's media outlets conservative leanings. The Democratic Governors Association criticized the donation, and demanded more transparency in the reporting by News Corp companies. DGA head Nathan Daschle wrote to the chairman of News Corp company Fox NewsRoger Ailes: "In the interest of some fairness and balance, I request that you add a formal disclaimer to your coverage any time any of your programs covers governors or gubernatorial races between now and election day."[33]

[edit]United States Chamber of Commerce

In the summer of 2010, News Corp. donated $1 million to the United States Chamber of Commerce. The Chamber aggressively supported the Republican effort to retake Congress in 2010.[34] This donation and an earlier $1 million contribution that News Corp. made to the Republican Governor's Association led media critics to question whether the company had crossed an ethical line for a media company.[34]

[edit]2011 News International hacking allegations

Schoolgirl Milly Dowler was abducted and murdered by a serial killer. Tampering with her voicemail misled family and friends into thinking that she was still alive.[35]

In July of 2011, News Corp closed down News of the World due to allegations of phone hackings. The allegations include trying to access former Prime Minister Gordon Brown's voice mail, and obtain information from his bank accounts, family's medical records, and private legal files. Allegations of hacking have also been brought up in relation to former Prime Minister Tony Blair, and the Royal Family.[36] Other allegations put out by The Guardiannewspaper include the exploitation, with intent to gain access to or use private information, of a list of 4,332 names or partial names, 2,987 mobile phone numbers, 30 audio tapes of varying length and 91 PIN codes, of a kind required to access the voicemail of the minority of targets who change the factory settings on their mobile phones.[37] The names are said to include those of British victims of the Sept. 11, 2001 terror attacks, family members of victims of the "7/7" bombings on London's transit system, family members of British troops killed overseas, Milly Dowler, a 13-year-old missing British girl who was later found dead, actor Hugh Grant and a lawyer representing the family of Princess Diana's lover at the inquest into her death.[37]

On July 13, 2011 News Corp withdrew its bid to purchase the final 61% stake in BskyB after pressure from both the Labour and Conservative Parties in Parliament.[38] Recent allegations about the violation of ethical standards by the News Corporation subsidiary, News of the World, have been speculatively applied to News Corporation holdings in the United States. Senator John Rockefeller (D-WV), stated on July 12, 2011 that there should be a government investigation into News Corporation to ascertain whether or not American citizens had their "rights violated." [39]His statement was echoed on Wednesday by Sen. Robert Menendez (D-NJ) who specifically requested an investigation into 9/11 victims, as well as Sen. Frank Lautenberg (D-NJ) who encouraged an investigation by the Securities and Exchange Commission.[40] On July 13, 2011, Representative Peter King (R-NY) wrote a letter to the FBI requesting an investigation into News Corporations ethical practices, and on July 14, the FBI opened a probe into the hacking of 9/11 victims.[41] Les Hinton, chief executive of the media group's Dow Jones, resigned on July 15 saying, "I have seen hundreds of news reports of both actual and alleged misconduct during the time I was executive chairman of News International and responsible for the company. The pain caused to innocent people is unimaginable.That I was ignorant of what apparently happened is irrelevant and in the circumstances I feel it is proper for me to resign from News Corp, and apologise to those hurt by the actions of the News of the World." [42]

[edit]Corporate governance

The company's Board of Directors consists of 17 individuals:

[edit]Office of the chairman

[edit]Holdings

[edit]Books

[edit]Newspapers

[edit]Magazines

  • News America Marketing (Smartsource) (weekly Sunday newspaper coupon insert/website)
  • Australian
    • Alpha Magazine
    • Australian Country Style
    • Australian Golf Digest
    • Australian Good Taste
    • Big League
    • BCME
    • Delicious
    • Donna Hay
    • Fast Fours
    • GQ (Australia)
    • Gardening Australia
    • InsideOut (Aust)
    • Lifestyle Pools
    • Live to Ride
    • Notebook
    • Overlander 4WD
    • Modern Boating
    • Modern Fishing
    • Parents
    • Pure Health
    • Super Food Ideas
    • Truck Australia
    • Truckin' Life
    • twowheels
    • twowheels scooter
    • Vogue (Australia)
    • Vogue Entertaining & Travel
    • Vogue Living
  • InsideOut (UK Based Magazine)

[edit]Music and radio

[edit]Russia

  • Nashe (50%)
  • Best FM (50%)

[edit]Sport

[edit]Studios

[edit]TV

News Corp agreed to sell eight of its television stations to Oak Hill Capital Partners for approximately $1.1 billion as of 22 December 2007. The stations are US Fox affiliates.[43] These stations, along with those already acquired by Oak Hill that were formerly owned by The New York Times Company, formed the nucleus of Oak Hill's Local TV LLC division.

[edit]Broadcast

  • News Corp Europe
    • bTV, a broadcast television network in Bulgaria. They sold this to CME in February 2010.
    • B1 TV (12,5%), a broadcast television network in Romania, in partnership with Ismar International NVkkkk
    • Fox Televizija, a broadcast television network in Serbia (49%). They sold this to Antenna Group in January 2010
    • Fox Turkey, a Turkish terrestrial channel (56,5%) (formerly TGRT)
    • Imedi Media Holding (100%), a Georgian radio and TV broadcaster.
      • Imedi Television
      • Radio Imedi
    • Israel 10 (9%), a terrestrial channel in Israel.
    • LNT (100%), a terrestrial channel in Latvia
    • TV5 Riga (100%), a terrestrial channel in Latvia
    • Cielo (100%), a free channel in Italy

[edit]Satellite television

[edit]Cable

Cable TV channels owned (in whole or part) and operated by News Corporation include:

PLATFORMS

  • India
    • Hathway Cable & Datacom (22.2%), India's 2nd largest cable network through 7 cities including Bangalore, Chennai, Delhi, Mumbai & Pune
  • Taiwan
    • Total TV (20%), Pay TV platform with JV partner KOO's Group majority owner (80%). News Corp also has a 20% interest in the KOO's Group directly

[edit]Internet

[edit]Other assets

  • NDS – Conditional access technology and personal digital video recorders (PVRs) (49%)
    • Jungo
    • Timothy Coville
    • ITE, publisher of PlayStation and Mobile games, and interactive television
  • Broadsystem Ltd (UK) – Telephony provider for media companies, bought in 1991
  • Broadsystem Australia (Australia)
  • Broadsystem Ventures (UK) – provider of cheap-rate telephone calls, particularly for customers of Sky Television. Bought outright in 1999.
  • Jamba! – Mobile Entertainment/Mobile Handsets Personalisation/Games.
  • News Outdoor Group – Largest outdoor advertising company in Eastern Europe with over 70,000 ads including billboards and bus shelters, operating in Bulgaria, Czech Republic, Hungary, India, Israel, Poland, Romania, Russia (96 cities), Turkey & Ukraine.
    • Maximedia Israel (67%)
    • Mosgorreklama (50%) – Russia sign and marketing material manufacturer
    • Kamera Acikhava Reklamclik (?) – leading outdoor advertising company in Turkey
  • Australian Associated Press (45%) – real time news service.
  • Stats Inc (50%) – worlds leading provider of sporting information and statistical analysis (a JV with Associated Press)
  • Fox Sports Grill (50%) – Upscale sports bar and restaurant with 7 locations – Scottsdale, Arizona; Irvine, California; Seattle, Washington (U.S. state)|Washington; Plano, Texas; Houston, Texas; San Diego, California; and Atlanta, Georgia (U.S. state)|Georgia.
  • Fox Sports Skybox (70%) – Sports fan's Bar & Grill at Staples Center and 6 airport restaurants.
  • News America Marketing (US) – (100%) – nation's leading marketing services company, products include a portfolio of in-store, home-delivered and online media under the SmartSource brand.
  • Rotana (9%) – Largest Arab entertainment company owned by Saudi Prince Al-Waleed bin Talal
  • The Daily – iPad only newspaper delivered daily.
  • Making Fun – social game developer for making games for social networking sites, smartphones, tablets and other devices.[44]

[edit]See also

[edit]References

  1. ^ "News Corp investors agree US move"BBC News. 26 October 2004. Retrieved 27 March 2010.
  2. ^ Fabrikant, Geraldine (7 April 2004). "Market Place; News Corp. Plans to Follow Its Chief to the United States"The New York Times. Retrieved 27 March 2010.
  3. a b c d e "Financial Statements for News Corporation - Google Finance". Google.com. Retrieved 2011-07-11.
  4. ^ "Company Profile for News Corporation (NWSA)". Retrieved 30 September 2008.
  5. ^ "Fortune". CNN. Retrieved 20 May 2010.
  6. ^ "PowerPoint Presentation" (PDF). Retrieved 2011-07-11.
  7. ^ Siklos, Richard (9 February 2009). "Why Disney wants DreamWorks". CNN. Retrieved 20 May 2010.
  8. ^ "News Corporation – Annual Report 2007". Newscorp.com. 2007-06-30. Retrieved 2011-07-11.
  9. ^ "BBC: World's largest broadcaster & Most trusted media brand". Media Newsline. Retrieved 23 September 2010.
  10. ^ "Digital license". Prospect. Retrieved 23 September 2010.
  11. ^ "About the BBC – What is the BBC". BBC Online. Retrieved 23 September 2010.
  12. a b Revolution on Fleet Street, TIME magazine, 21 August 1996.
  13. ^ Palmer, Rhonda (27 July 1993). "Murdoch catches rising Star".Variety.
  14. ^ Shenon, Philip (23 August 1993). "THE MEDIA BUSINESS; Star TV Extends Murdoch's Reach"The New York Times.
  15. ^ George Monbiot. "The most potent weapon wielded by the empires of Murdoch and China | Comment is free". The Guardian. Retrieved 2011-07-11.
  16. ^ Rupert Murdoch Laid Bare[dead link]
  17. ^ "Tax free: Rupert Murdoch's zero status". BBC News. 25 March 1999. Retrieved 25 April 2010.
  18. ^ Fox Business makes TV debut, Hollywood Reporter, 16 October 2007. Accessed: 10-17-2007. Archived May 6, 2008 at theWayback Machine.
  19. ^ Fox Business Network blazes new trail, USA Today, 14 October 2007. Accessed: 17 October 2007.
  20. ^ Fox Business: Fluff meets financial, Toronto Globe and Mail, 16 October 2007. Accessed: 17 October 2007.
  21. ^ Rupert Murdoch Speaks His Mind, Business Week, Feb 2007.
  22. ^ Rupert Murdoch's News Corp launches global service to link all its outlets, Guardian.co.uk, 7 September 2009. Accessed: 15 September 2010.
  23. ^ Staff writers of The Australian (15 September 2010). "News Limited sells Fiji Times to Fijian company Motibhai"The Australian. Retrieved 29 January 2011.
  24. ^ "News of the World phone hacking scandal: timeline". Telegraph. 2005-07-07. Retrieved 2011-07-14.
  25. ^ News Corp and Liberty Media, USA Today, 22 December 2006.
  26. ^ News Corp Murdoch trust sells shares, The Age, 16 November 2007.
  27. ^ Murdoch's son sees pay doubled ahead of exit, Daily Telegraph, 26 August 2005.
  28. ^ Charlie Rose interview with Prince Alwaleed Bin Talal, video.google.com
  29. ^ Li, Kenneth (22 January 2010). "Alwaleed backs James Murdoch"Financial Times (Pearson PLC). Retrieved 23 January 2010.
  30. ^ "Murdoch's Pebble Beach shindig". Australian Broadcasting Corporation. Retrieved 1 December 2007.
  31. ^ Brook, Stephen (31 July 2006). "Bono and Blair to join Murdoch on the beach"The Guardian (UK). Retrieved 1 December 2007.
  32. ^ Hinsliff, Gaby (23 July 2006). "The PM, the mogul and the secret agenda"The Guardian (UK). Retrieved 1 December 2007.
  33. ^ Greenslade, Roy (2010-08-20). "Fox News quiet on News Corp's $1m donation to Republicans". Guardian. Retrieved 2011-07-14.
  34. a b "News Corp. gave $1 million to pro-GOP group - Ben Smith". Politico.Com. Retrieved 2011-07-14.
  35. ^ Nick Davies and Amelia Hill "Missing Milly Dowler's voicemail was hacked by News of the World", The Guardian, 4 July 2011
  36. ^ Nick Davies and David Leigh. "News International papers targeted Gordon Brown". The Guardian. Retrieved 2011-07-14.
  37. a b "Our phone hacking victims list". Guardian. Retrieved 2011-07-14.
  38. ^ "UPDATE 1-BSkyB investors eye cash after deal collapse". Reuters. Retrieved 2011-07-14.
  39. ^ Stelter, Brian. "News Corp. Newspapers May Face U.S. Inquiry"The New York Times. Retrieved 14 July 2011.
  40. ^ Stelter, Brian. "News Corp. Newspapers May Face U.S. Inquiry"The New York Times. Retrieved 14 July 2011.
  41. ^ Rashbaum, William. "F.B.I. Opens Inquiry Into Hacking of 9/11 Victims"The New York Times. Retrieved 14 July 2011.
  42. ^ BBC, BBC. "News Corp's Les Hinton resigns amid phone-hack scandal"BBC. Retrieved 14 July 2011.
  43. ^ Kercheval, Nancy and Danielle Rossingh (22 December 2007)."News Corp. to Sell U.S. TV Stations for $1.1 billion (Update5)". Bloomberg. Retrieved 22 December 2007.
  44. ^ "Making Fun debuts as the video-game arm of Rupert Murdoch's empire". VentureBeat. 2011-02-25. Retrieved 2011-07-11.

[edit]External links


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