Saturday, October 22, 2011

The Old Devil Is Still In

Unlike his sons Lachlan and James, who sat quietly during the 75-minute meeting, [Rupert] Murdoch stood defiant in the face of tough questioning about News Corp’s corporate governance, a proposal to strip him of the long-held chairman role that goes along with his CEO title, and fresh allegations of computer hacking that piggyback off the phone hacking charges responsible for putting Murdoch in his precarious position.


Murdoch had some supporters in the crowd, among them Haim Saban, the billionaire creator of the “Teenage Mutant Ninja Turtles” franchise. Saban said he was shocked at investors’ focus on corporate governance and said they should instead be looking at News Corp’s strong operating performance.


Since Murdoch controls 40 percent of News Corp’s voting B shares and is supported by the next largest holder, Saudi Prince Alwaleed bin Talal, there was little chance that Murdoch, his sons James and Lachlan or any other long-time serving director would have been voted off the board.

  Raw Story

In other words, it was all a show. Surprised?

...but hey, do what you will anyway.

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