Murdoch weathers meeting with critics
October 18, 2012
Rupert Murdoch was willing to take a conciliatory tone at this week’s News Corp. shareholder meeting, but he wasn’t willing to give his critics what they wanted, an overhaul of the board and the establishment of an independent chairman separate from the Murdoch family.
The chief executive officer retained his position and his power at Tuesday night’s meeting, though he acknowledged his critics’ complaints and insisted that his company has worked “hard to make amends, very hard.”
It was the second straight year that Murdoch has faced opposition among shareholders, continuing the fallout from the News of the World phone hacking scandal and bribery allegations at The Sun, two of the company’s British papers.
NOTW was famously shut down and the investigation continues into The Sun, with dozens of arrests made thus far in the two cases.
Some investors have urged Murdoch to step down or appoint an independent chairman. But Murdoch, who is also chairman, refused. He pointed to gains in News Corp. stock and a recent finding by British regulator Ofcom that BskyB, which News Corp. owns 39 percent of, is “fit and proper” to hold a broadcasting license.
He told critics that if they don’t like the way News Corp. does things, they can always sell their stock, echoing a controversial tweet he sent out last week.
Though there have been very vocal rumblings of opposition to Murdoch, and his sons received a number of "nay" votes Tuesday in their reelection, there's very little chance that a shareholder uprising could boot him out.
The Murdoch family controls 40 percent of News Corp.'s stock.
Tags: chief executive officer, hacking scandal, news corp., news corp. scandal, news corp. shareholders meeting, news of the world, notw, rupert murdoch, scandal, shareholders meeting, the sun, this week
Few accompany ABC on its ‘Quest’
‘Sharknado 2′ becomes a monster hit
Phoenix: TV is hot and getting hotter
‘Partners,’ tired joke after tired joke
Rachel, my good friend is such a liar
So, what’s the future for print magazines?
Best tube bets this weekend
NBC renews new comedy ‘Undateable’
Big changes at Fox Business Network
Authorities: Woman pulls gun on Comcast worker
Love Snapchat? How Northeastern of you.
Yet another spinoff for newspaper industry
‘Extant’ holds steady in new later timeslot
- Carol Lombard becomes VP of integrated production at INNOCEAN USA
- Renee Peterson becomes VP of HR at Hearst Newspapers
- Melissa Drucker rises to SVP of TV sales at BBC America
- Rob Glaser rises to CEO at RealNetworks
- Tim Boell becomes VP of distribution at Outdoor Channel
- Julie Meisner Eagle becomes VP of production at Discovery Life Channel
- Josh Rubin and Allen Weiner join The Daily Dot
- Ilja Goossens becomes VP of business development at LoopMe
- Former football player Brady Quinn joins Fox Sports
- Actress Krysten Ritter guesting NBC's 'The Blacklist'
This week’s cable ratings
This week’s broadcast ratings
This week’s top movies, songs and books
This week’s daypart ratings
This month’s new media traffic data
This week’s younger viewer ratings
Media buyer manager job in Philadelphia
Assistant media planner wanted in New York
Digital media buyer position in Seattle
National DR media buyer job in Nashville
Mobile media planner opening in San Francisco