Rupert Murdoch to Shareholders: Love Me or Leave Me
You don't get to be a tycoon by going soft, and at this year's shareholder meeting, Rupert Murdoch was defiant in the face of disgruntled investors.
You don’t get to be a tycoon by going soft, and at this year’s shareholder meeting, Rupert Murdoch was defiant in the face of disgruntled investors.
Murdoch’s News Corp. has been under fire since one of the conglomerate’s least profitable businesses, newspapers, were outed for phone hacking.
Murdoch controls most of the voting shares of his empire, and was never in any real danger. The Guardian summarizes how he handled another year of disapproval from some of his financial backers:
Last week Murdoch wrote on Twitter: “Busy preparing for next week’s company AGM. Signs pretty peaceful, but any shareholders with complaints should take profits and sell!”
Asked at the meeting about the comment, Murdoch said: “Oh please.” He then pointed to a comment in The New York Times where an analyst suggested dissident shareholders could sell their stock and buy other media firms.
The exchange was a rare flash of annoyance from the often irascible chairman who delivered a calm performance and avoided any tricky questions about the alleged £7m payoff for his former favourite Rebekah Brooks, the News International chief who presided over News Corp’s disgraced UK newspapers.
— Posted by Peter Z. Scheer.
Wait, before you go…If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
Ear to the Ground
The administration says the moves will safeguard renters and promote rental affordability.
Business & Economy
The cost of living might be rising faster for them.
Asia Pacific
In India, Pakistan, and Sri Lanka, religious politics has led to economic disaster.
Dramatic action is needed now to blunt the immediate pain of vulnerable workers.
The response to the coronavirus pandemic reveals that it’s possible to significantly reduce emissions that cause air pollution and climate change.
The economic pain caused by the coronavirus becomes more painfully clear.
There are currently no responses to this article.
Be the first to respond.