Breaking: Rupert Murdoch bows to pressure and is withdrawing bid for BSkyB

[snagglepuss]

::woohoo:




The dramatic announcement came as the News Corp crisis went global after a Senator called for a U.S. hacking probe and the firm's Australian boss ordered a review of all editorial spending.

Shadow Culture Secretary Ivan Lewis called the news a ‘tremendous victory for the public’.
NewsCorp will have to payout £38.5million to which it agreed to pay as a break fee.
Media analyst Roy Greenslade told Sky News: 'This is a great shock. There were stories overnight suggesting that they might just consider ditching News International altogether but they have ditched the idea of the bid altogether.


Read more: http://www.dailymail.co.uk/news/article-2014318/News-Corp-withdraw-bid-BSkyB.html#ixzz1RzcUniZ0

[Sarah Ibarruri]

1. Are you serious? No way. nt

[snagglepuss]

2. Yeppers. Here's the link

The dramatic announcement came as the News Corp crisis went global after a Senator called for a U.S. hacking probe and the firm's Australian boss ordered a review of all editorial spending.

Shadow Culture Secretary Ivan Lewis called the news a ‘tremendous victory for the public’.

NewsCorp will have to payout £38.5million to which it agreed to pay as a break fee.

Media analyst Roy Greenslade told Sky News: 'This is a great shock. There were stories overnight suggesting that they might just consider ditching News International altogether but they have ditched the idea of the bid altogether.


Read more: http://www.dailymail.co.uk/news/article-2014318/News-Corp-withdraw-bid-BSkyB.html#ixzz1RzcUniZ0

[Sarah Ibarruri]

6. This is excellent news. Now we need to if his FOX NEWS also did hacking and tapping nt

[TalkingDog]

3. I hope he is begging penniless on a street corner by next year.

The fucker.

[snagglepuss]

5. It looks like he is becoming toxic in the UK. His losing influence will

gnaw at him. Interesting to see what gets unearthed in the US.

[xchrom]

4. Awesome. nt

[Kingofalldems]

7. Freepers not liking this one

What a bad week for republicans.

[dixiegrrrrl]

8. More bad news for Murdoch, also:

Shareholder Lawsuit: Phone-Hacking Scandal Damaged News Corp.'s Image

July 11, 2011 3:38 pm ET by Joe Strupp

A group of News Corp. shareholders led by Amalgamated Bank has sued the media company claiming several of its business decisions, as well as the recent phone-hacking scandal at News of the World, have adversely affected shareholder interests.

http://mediamatters.org/blog/201107110018

and
Look what was under this rock:

Guess Who Didn't Pay Federal Income Tax And Got Billions In Refunds? News Corp!

July 13, 2011 10:29 am ET by Julie Millican

Fox News is famous for complaining about taxes. They consistently decry what they see as President Obama's desire to "soak the rich"; they see "class warfare" against the rich almost everywhere; they consistently whine that middle- and low-income families pay no federal income tax; and they relentlessly attacked GE for not paying any federal income tax this past year, going so far as to suggest that this was somehow because GE's CEO is part of Obama's Economic Advisory Panel. But here's a story I wouldn't expect Fox to be highlighting any time soon. As it turns out, News Corp., Fox News' parent company, not only hasn't paid federal income tax in years, it reportedly received billions in tax refunds, mainly from the U.S. government.

http://mediamatters.org/blog/201107130012