Posted on Jul 13, 2011
Rupert Murdoch’s international media group, News Corp., abandoned efforts to acquire British satellite broadcasting company BSkyB amid an outburst of official and public censure after it came to light that associated journalists spied on mobile phone conversations and bribed police officers to cover it up. The scandal resulted in Murdoch’s closing the offending paper, the 168-year-old London-based News of the World, last week.
In the words of Marvin Kitman, who published a profile of Murdoch in Harper’s Magazine last year, any news organ the Australian press baron ever touched invariably became “synonymous with sleaze”—especially the historically liberal New York Post and the once-venerated Sunday Times of London. Those who’ve watched with horror as Murdoch blazed a trail of destruction through the media world over the past few decades can breathe a sigh of relief, for now. —ARK
Rupert Murdoch’s media group News Corporation bowed to pressure from the public and parliament on Wednesday and withdrew its bid to take full control of pay-TV company BSkyB.
All three main political parties were poised to call on News Corp to abandon its offer in a vote in the House of Commons later on Wednesday.
The move leaves News Corp’s key strategy for UK corporate growth in tatters. The proposed £8bn deal has been in train for more than a year, with the first offer tabled in June 2010.
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