{"id":26181,"date":"2012-05-02T03:30:00","date_gmt":"2012-05-02T03:30:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/murdoch-not-likely-to-step-down-as-news-corp-ceo-nwsa\/26181\/"},"modified":"2012-05-02T03:30:00","modified_gmt":"2012-05-02T03:30:00","slug":"murdoch-not-likely-to-step-down-as-news-corp-ceo-nwsa","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/murdoch-not-likely-to-step-down-as-news-corp-ceo-nwsa\/26181\/","title":{"rendered":"Murdoch Not Likely to Step Down as News Corp. CEO (NWSA)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2010\/12\/63.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-3591\" title=\"News Corp\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2010\/12\/63-150x150.jpg\" alt=\"News Corp\" width=\"150\" height=\"150\"><\/a>Beleaguered Media Mogul, Rupert Murdoch received one of the highest official rebukes yet related to phone hacking controversy involving News Corp. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=NWSA\">NASDAQ: NWSA<\/a>). \u00a0However, according to some experts Murdoch is not expected to step down any time soon.<\/p>\n<p><span id=\"more-26181\"><\/span><\/p>\n<p>On Tuesday, a committee appointed by the British Parliament to investigate in the scandal said \u201che (Murdoch) was not a fit person to exercise the stewardship of a major international company.\u201d<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Reacting to the remark, the Company said \u201chard truths have emerged from the select committee report: that there was serious wrongdoing at the\u00a0<em>News of the World<\/em>; that our response to the wrongdoing was too slow and too defensive; and that some of our employees misled the Select Committee in 2009.\u201d<\/p>\n<p>However, the company also objected over the tone of the remark as it added \u201cNews Corporation regrets, however, that the select committee&#8217;s analysis of the factual record was followed by some commentary that we, and indeed several members of the committee, consider unjustified and highly partisan.\u201d<\/p>\n<p>News Corp. did not comment over how the investigating committee remarks would affect Murdoch plans to run the company.<\/p>\n<p>Experts believe that Murdoch-, who turned 81 in March, is highly unlikely to step down unless his health disallows him to continue at the office.<\/p>\n<p>For instance, Laura Martin, of Needham &amp; Co, said to CNN \u201cSelf-made billionaires are fighters. He&#8217;s not going to leave because someone writes a report and says he&#8217;s not a nice guy.\u201d<\/p>\n<p>Meanwhile, investigating committee remarks raised the risks that the British media regulator, Ofcom, could compel News Corp. to drop its valuable stake in British pay television service BSkyB.<\/p>\n<p>In its statement over the issue, Ofcom said,\u00a0 \u201ccontinuing to assess the evidence, and that it has a duty under the Broadcasting Acts 1990 and 1996 to be satisfied that any person holding a broadcasting license is, and remains, fit and proper to do so.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gildan-activewear-gil-to-acquire-100-of-the-common-shares-of-anvil-holdings\/26338\"><br \/>\nGildan Activewear &#8211; GIL &#8211; To acquire 100% of the common shares of Anvil Holdings<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/kensey-nash-corporation-knsy-dsm-has-agreed-to-acquire-all-of-the-common-stock-of-kensey-nash\/26337\"><br \/>\nKensey Nash Corporation &#8211; KNSY &#8211; DSM has agreed to acquire all of the common stock of Kensey Nash<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/johnson-johnson-china-investment-ltd-jnj-acquired-guangzhou-bioseal-biotech\/26336\"><br \/>\nJohnson &amp; Johnson (China) Investment Ltd. &#8211; JNJ &#8211; Acquired Guangzhou Bioseal Biotech<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cimarex-energy-xec-reports-first-quarter-2012-results\/26335\"><br \/>\nCimarex Energy &#8211; XEC &#8211; Reports First-Quarter 2012 Results<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/western-refining-wnr-pleased-with-first-quarter-results-and-the-positive-momentum\/26334\"><br \/>\nWestern Refining &#8211; WNR &#8211; Pleased with first quarter results and the positive momentum<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/swift-energy-company-sfy-focused-on-improving-operational-efficiencies-and-reducing-costs\/26333\"><br \/>\nSwift Energy Company &#8211; SFY &#8211; Focused on improving operational efficiencies and reducing costs<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/equity-one-eqy-pleased-with-the-operating-performance-of-core-business\/26332\"><br \/>\nEquity One &#8211; EQY &#8211; Pleased with the operating performance of core business<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Beleaguered Media Mogul, Rupert Murdoch received one of the highest official rebukes yet related to phone hacking controversy involving News [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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