British papers may be Murdoch’s next sacrificial lamb

By Nicholas Wapshott
July 15, 2011

By Nicholas Wapshott
The opinions expressed are his own.

Soon after Rupert Murdoch moved to Beverly Hills in 1986 to tinker with his new toy, Twentieth Century Fox, his wife at the time, Anna, was asked how she was enjoying Los Angeles. “Well, it’s very different when you don’t own the paper,” she said. In Sydney, London, and New York, Mrs. Murdoch was used to “A” list parties, tables in restaurants at short notice, the best seats for sold out shows. But wives of movie moguls, she fast discovered, were something less than the wife of someone who bought ink by the gallon.

How I misread News Corp’s taxes

By David Cay Johnston
July 13, 2011

By David Cay Johnston. The opinions expressed are his own.

Readers, I apologize. The premise of my debut column for Reuters, on News Corp’s taxes, was wrong, 100 percent dead wrong.

Advisory: David Cay Johnston column on Rupert Murdoch is withdrawn

By Reuters Staff
July 13, 2011

Please be advised that the David Cay Johnston column published on Tuesday stating that Rupert Murdoch’s U.S.-based News Corp made money on income taxes is wrong and has been withdrawn. News Corp’s filings show the company changed reporting conventions in its 2007 annual report when it reversed the way it showed positive and negative numbers. A new column correcting and explaining the error in more detail will be issued shortly.

Arthur Andersen. Anthony Weiner. News Corp?

July 13, 2011

Arthur Andersen. Anthony Weiner. News Corp?

Sure, it’s too early to “go there.” News Corp is an immense, diversified multi-national media conglomerate that has been widely reviled by many for more than a generation. For all of his detractors there are plenty of readers, viewers and shareholders who are just fine with Rupert Murdoch’s tabloidization and opinionization of the news business.

Can politicians finally escape Murdoch’s grasp?

By Bruce Page
July 11, 2011

By Bruce Page
The views expressed are his own.

The News of the World was a survivor, increasingly moribund, from dark, forgotten passages in British social history.

News of the World hacking scandal: UK’s Miliband speaks out

July 8, 2011

UK opposition leader Ed Miliband called on the British media to clean up its image and emphasized the need for a speedy public inquiry into the News of the World phone-hacking scandal. Watch clips of Miliband’s comments at a Thomson Reuters Newsmaker event below:

Closing a tabloid won’t stop the cheating culture

By David Callahan
July 7, 2011

By David Callahan
The views expressed are his own.

The demise of the News of the World after a phone hacking scandal will not change a troubling truth about tabloid journalism – or business in general these days: Bad ethics can yield big financial rewards and such are the upsides of cheating that even honest professionals may feel they must bend the rules to compete.

Rupert Murdoch’s global empire

July 7, 2011

A scandal rocking Rupert Murdoch’s media empire deepened on Thursday with claims his best-selling News of the World paper hacked the phones of relatives of British soldiers killed in action. The latest allegations prompted News Corp to shut down the 168-year-old tabloid. Here’s a look at the rest of the empire.

Tech wrap: Facebook zooms into video age

July 6, 2011

Starting today, Facebook users will have the option of holding one-on-one video calls with their friends directly from their account on the social network. The new Skype-powered video service marks a renewed effort by Facebook to cement itself as the go-to communications hub on the Web and serves as a response to Google’s recently launched Hangouts app, a similar video chatting feature that lets users on its Google+ social network chat with up to 10 people at once.

Tech wrap: And Myspace goes to . . .

June 29, 2011

News Corp’s hunt to find a buyer for once-mighty social networking website Myspace has finally ended. Specific Media, an online advertising firm, has agreed to buy the site for about $35 million, a source familiar with the deal told Reuters. News Corp will retain a minority 5 percent stake in the website it purchased six years ago for $580 million. More than half of the site’s 500 employees are expected to be laid off as part of the deal.