Irate News Corp. Shareholders to Take Murdoch to the Woodshed [View All]

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Source: New York Times

The most forceful, and potentially most ominous protest is likely to come from Tom Watson, the British Labour Party legislator who has led the investigation into phone-hacking at News Corporation’s British newspaper unit. Mr. Watson, who acquired nonvoting proxy shareholder status to attend the meeting, said he planned to accuse the company of engaging in further criminal wrongdoing involving surveillance techniques that extend beyond the phone hacking. He did not discuss potential evidence.

“A lot of institutional investors do not know the scope nor the implications of what’s happening in the U.K.,” Mr. Watson said in a phone interview. “You can delegate power but not responsibility, and Rupert Murdoch for whatever reason has failed to put in corporate governance arrangements that prohibit crimes from being committed.”



Read more: http://www.nytimes.com/2011/10/21/business/media/irate-news-corp-shareholders-to-take-murdoch-to-the-woodshed.html?_r=2

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