Wednesday 20 July 2011

Murdoch's legal, financial woes escalate

US probe, shareholder lawsuit add to pressures of UK hacking scandal

Cartoon - Steve Bell - the Guardian

The legal and financial troubles for Rupert Murdoch’s News Corp. are escalating on the eve of the media tycoon’s showdown appearance before a House of Commons committee Tuesday morning....

...In the two weeks since the scandal has erupted, News Corp’s stock has dropped 21 percent, an $8 billion plunge in market value that has personally cost Murdoch and his family more than $1 billion, according to an analysis by the Financial Times.

For the entire article GO HERE

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