From BLOOMBERG:
News Corp. (NWSA)’s Rupert Murdoch is struggling to control the destiny of the company he began building six decades ago after a trusted deputy was arrested and Scotland Yard’s top official quit over ties to a suspect in the phone-hacking probe.
Independent directors of New York-based News Corp. have begun questioning the company’s response to the crisis and whether a leadership change is needed, said two people with direct knowledge of the situation who wouldn’t speak publicly. Rebekah Brooks, the former News International chief who Murdoch backed until last week, was arrested yesterday in London.
“The shell of invulnerability that Rupert Murdoch had around him has been cracked,” said James Post, a professor at Boston University’s School of Management who has written about governance and business ethics. “His credibility and the company’s credibility are hemorrhaging.”
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EDITOR: NewCorp needs to decide whether they are (1) in the sleaze business, (2) the conservative pimping business, or (3) legitimate main stream journalism. We suspect they will settle on #2.
