Advisory Firm Suggests Rupert Murdoch Get The Boot

Originally published on January 6, 2012 7:05 pm
Copyright 2017 NPR. To see more, visit http://www.npr.org/.

RENEE MONTAGNE, HOST:

NPR's business news starts with News Corp. under fire.

(SOUNDBITE OF MUSIC)

MONTAGNE: A major advisory firm for investors is urging shareholders to oust Rupert Murdoch and his sons from the board at News Corp. Institutional Shareholders Services says the phone-hacking scandal, quote, "laid bare a striking lack of stewardship and failure of independence." The scandal cost the company a $12 billion acquisition, forced the closure of the tabloid News of the World, and led to the arrest of several executives. The advisory firm recommended against re-electing 13 of the 15 News Corp. board members when shareholders hold their annual meeting in two weeks. Transcript provided by NPR, Copyright NPR.