Tuesday, July 19

News Corp. Political Power - Stock Value and Viewer Confidence Diminishing by the Hour

News Corp. continues to slide down from the pedestal they were standing high upon for nearly a decade.

A recent Bloomberg article says:
News Corp. at 50% Discount Shows Diminishing Murdoch. They go on to state in the article that if News Corp's holdings were valued separately they would be estimated between $61 and $79 Billion but under the parent company umbrella of News Corp they are available at a discount as News Corp is valued at just $41 Billion. The companies value has dropped some 13% over just the past two weeks.

Can this spell an upcoming break up of the mega-corp infotainment corporation that wields power from nation to nation and recently found itself involved in a scandal that has high power officials tied in with journalists and even a dead whistle blower?

It smacks of a made for TV mini-series doesn't it?

Sean Hoare, a former journalist from the now closed News Corp weekly News of the World and the original whistle blower on the phone hacking scandal that is shaking News Corp was found dead in his 1st floor apartment in Waterford at 10:40 Am on Monday.

The 47 year-old was the first to allege that Andy Coulson was aware of phone hacking by the News of the World staff.

I would feel to Faux like if I didn't mention here that Sean Hoare had been discharged from the News of the World for drinking and drug issues. This would cast question on Mr. Hoare's allegations if others had not come forward and top executives had not started stepping down from News Corp after the allegations fell into the international spotlight this past week.

Sean Hoare's cause of death is undetermined but police are performing a postmortem that is expected to provide a preliminary cause of death shortly. The postmortem was scheduled to start at 2 PM Greenwich time.

Currently Mr. Hoare's death is not being considered suspicious at this time.

Sean had told the New York Times that reporters at the News of the World paid police £300 ($483 USD) for the use of police technology to locate people that were using their mobile phones by tracking the phones signals. The News of the World journalists received this information in exchange for payments to police officers.

Meanwhile in London, the depth of the connections between News Corp. employees and political employees continues to unfold.

In the United States the FBI has reportedly begun examining allegations that News Corp. employees attempted to hack phones belonging to the victims of the 9/11 terrorist attacks.

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