Thursday, July 14, 2011

It gets even worse for the Murdochs

    The phone hacking (okay I know phreaking is probably more correct) revelations of the last 11 days will have given the Murdochs and other NresCorp/News International executives a fair few sleepless nights. In their bid to fight the storm of priotest they have (at least temporarily) shelved their plans to take full control of BSkyB and have killed off the best selling Sunday paper in Britain.

    But all of this may be just small beer: The press is now reporting that the FBI has commenced an investigation into allegations that NOTW journalists tried to hack the phones of 9/11 victims.

    There may be nothing to these allegations but the news that an investigation is underway must come as a huge blow to the Murdochs. Newscorp has enormous holdings in the US. If the scandal extends further in the US the consequences for the company will be far greater than those here in the UK.

    Now it seems that Riupert Murdoch's touch is turning gold into shit his days at the top could be numbered - shareholders do not like this sort of thing (an understatement). The prospect of another Murdoch easing into the top role must also be in doubt.

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