On Sunday, London’s “News of the World” newspaper published it’s final edition. This, after a mega-scandal involving the phone hacking of murder victim’s family and the Royal family by newspaper reporters.
The sitiation exploded last week when it was reported that the newspaper had hacked the mobile phone of the 13-year-old murder victim in 2002 — even as her family and police were frantically searching for her. Reporters allegedly hacked into answering machine messages of the victim, making it seem like she was alive, when in fact, she was dead. One of the senior editors of the paper later worked for Prime Minister David Cameron.
Of course, like a good capitalist, Murdoch stayed true to his principals and fired 270 workers at the 168 year old newspaper. All the while, keeping the one person responsible for the debacle, chief executive of News International Rebekah Brooks. Brooks was head of the paper at the time of the phone hacking incident. She insist she was unaware of the hacking.
The likelhood of Rupert Murdoch’s empire crumbling further depends on how much anger continues from the scandal. In particulatr, just how much more information will come out of it. Murdoch’s ambition to corner the satellite TV business in Britain is very much in doubt. Meanwhile, in the US much of Murdoch’s media had ignored the story until it had exploded.
Judging from how things will bowl over, Murdoch will likely lose much of his media base in the U.K., leading to the loss of billions of dollars anually. But with much of his eggs (Faux News, NY Post, etc.) here on this side of the Atlantic, he’ll probaly have to postpone buying that new Lear jet.