Rupert Murdoch: News Corporation Announces Full Confidence In Mogul's 'Fitness' To Continue As Chairman And CEO

PA/Huffington Post UK  |  Posted: 2/05/2012 21:14 Updated: 2/05/2012 21:38

News Corporation's board has announced its full confidence in Rupert Murdoch's "fitness" and its support for him to remain at the helm of the company.

The directors' vote of confidence in the media mogul came after he was told in a report by a committee of MPs yesterday that he was "not a fit person" to run an international company.

The board of directors disagreed, issuing a statement saying he had "demonstrated resolve to address the mistakes of the company identified in the Select Committee's report".

The statement said: "The board of directors of News Corporation met today and announced its full confidence in Rupert Murdoch's fitness and support for his continuing to lead News Corporation into the future as its chairman and CEO.

"The board based its vote of confidence on Rupert Murdoch's vision and leadership in building News Corporation, his ongoing performance as chairman and CEO, and his demonstrated resolve to address the mistakes of the company identified in the select committee's report."

Satellite broadcaster BSkyB, which is 39%-controlled by News Corporation, insisted earlier it was still "a fit and proper licence-holder" as it remained under the glare of media regulator Ofcom.

The watchdog is considering whether BSkyB should hold a broadcast licence in the wake of the phone-hacking scandal at News International, which is owned by News Corp.

BSkyB, which revealed a net rise in customers of 78,000 to 10.5m in the three months to 31 March, hailed its "positive contribution to UK audiences, employment and the broader economy".

The phone-hacking scandal, which led to the closure of Sunday tabloid the News of the World, scuppered News Corp's plans to take full control of BSkyB and ultimately led to Murdoch's son, James, stepping down as chairman of the broadcaster.

Elsewhere in the update, BSkyB said it had concluded a review of editorial practices at Sky News and "found no evidence of impropriety or cause for concern".

Referring to two incidents in which a Sky News journalist accessed the email of individuals suspected of criminal activity, BSkyB said "the action was justified in the public interest and subject to proper editorial oversight".

The backing of Murdoch by News Corp's board follows reported rumblings of discontent from some US shareholders keen to see the company distance itself further from the UK scandal.

Responding to the findings of the Commons Culture Committee report, News Corp admitted it had highlighted "hard truths".

There had been "serious wrongdoing" at the News of the World, the company's response had been "too slow and too defensive", and some employees had misled the MPs in 2009, it conceded.

But the highly contentious investigation into the phone-hacking affair split the committee on party lines.

While committee members agreed unanimously that Murdoch's media empire had misled their inquiry in a "blatant fashion", Tory MPs refused to support the report after Labour and the sole Liberal Democrat pushed through the criticism of Murdoch by a vote of six to four.

Labour MP Tom Watson, who tabled the amendment, said he was disappointed that the Conservatives had been unwilling to sign up.

"These people corrupted our country. They brought shame on our police force and our Parliament. They lied, they cheated, blackmailed and bullied and we should all be ashamed when we think how we cowered before them for too long," he said.

But Conservative Louise Mensch said Mr Watson's insistence on inserting a conclusion that was "wildly outside the scope" of the inquiry had undermined the report's credibility.

News Corp's board of directors convened their meeting - which mainly took place by phone - in response to the publication of the committee's report.

A source close to the company said: "The report came out and the board understood its importance and met to review its findings."

FOLLOW UK

News Corporation's board has announced its full confidence in Rupert Murdoch's "fitness" and its support for him to remain at the helm of the company. The directors' vote of confidence in the media...
News Corporation's board has announced its full confidence in Rupert Murdoch's "fitness" and its support for him to remain at the helm of the company. The directors' vote of confidence in the media...
 
 
  • Comments
  • 46
  • Pending Comments
  • 0
  • View FAQ
Comments are closed for this entry
View All
Favorites
Recency  | 
Popularity
Page: 1 2 3  Next ›  Last »  (3 total)
04:21 AM on 05/17/2012
He has 'information' on the board.
photo
Gavin Saunders
we only have each other
01:43 AM on 05/05/2012
And the board is just as unfit for the positions they hold as Murkydoch is. Such poor judgement is sublime and makes the way clear for an well-overdue complete new board when the whole picture of the Murdoch business model is revealed. Just a matter of time.
This comment has been removed.
photo
HUFFPOST SUPER USER
Fozwords
Abandon hope when you post on here
04:38 PM on 05/03/2012
Wow I'm gobsmacked, what a surprise...................... support me of I'll close you down.......please/or else????????
02:19 PM on 05/03/2012
Shareholders have expressed their opinion to keep the status quote in order not to affect the share price. Change will come in due course in order to make the trasition as smooth as possible. Watch this space. Two American Senators are now asking searching questions to establish if any American Laws wre broken in the phone scandal.
04:02 PM on 05/03/2012
Spot on, Murdo & son will be history, and if the Americans unearth anything, it might end up with jail time. It's just what they like to do with people who mess with them.
I wonder if Bekka could get sucked into it.
01:45 PM on 05/03/2012
Well, they would, wouldn't they. It's the B Sky B vote that will count and that can't be far away, subject to the verdict of Ofcom.
01:32 PM on 05/03/2012
what a joke . . . .
01:05 PM on 05/03/2012
pure envy......keep taking the tablets.
12:48 PM on 05/03/2012
I wrote a piece last night regarding Murdoch which I suspect maybe is nearer the truth about this whole nauseating and very costly legal wrangle going on between MP's and Murdoch.

Reading through Wikipedia on Murdoch's history it is clear he is a political animal,nothing wrong in that most newspaper tycoons are.

But I began to notice he owns in his vast empire the very printers who print the Telegraph, this is the paper that first broke the story about MP's expenses!

Its not such a coincidence but, could all the vitriotic attack upon him for phone hacking be in petty retaliation by MP's for exposing them over their expenses scandal? If so, the public are paying (again) dearly for their behaviour as only lawyers win, and the costs so far are staggering in these days of austerity we are all suffering.

I'm also not certain if this action was altogether wise, in fact rather stupid at this particular time, and maybe Cameron realises this, as suddenly further legal action now seems to be cooling as Murdoch probably will intensify his support for Salmond in consequence, read his political support history.

Phone hacking goes on by authorities as a legal weapon against terrorism,but there is a very thin line between legal use and illegal use of it and, were it not for illegal use, many corrupt people would still not be caught so, those who resort to these tactics must pay the price.
12:07 PM on 05/03/2012
of course they will , he owns the company there all scared of losing there jobs if they have a vote of no confidence, you load of knumbnuts....
majdf18148
I have nothing to declare but my curiosity
12:14 PM on 05/03/2012
You grasp of how corporations and big business works is lacking. The board could oust him if they so wished. There are enough examples where founders of global companies have been disenfranchised by their own boards of directors.They have confidence in him because of his business acumen, his vision and business brain.If only we could get some of those traits into our politicians. They know how to do devious dealings, just as he did, they just need to get his business brain.As for "knumbnuts" one word. Mirror!
12:01 PM on 05/03/2012
confidence to control the government and the police when it all cools down bless him.
This comment has been removed.
ZEB
never fear the zeb is ere
10:47 AM on 05/03/2012
Must say that the board of NI, must be Murdoch and family are the board, they hold the most shares, my thinking is the only way out of this self made mess, is for Murdoch to stand down and pass ownership to his eldest daughter, which by law is the right full owner if Murdoch should he pass away, being the first born, and what I hear about her, she is no man/womans fool, even though she she does her own thing, which is a far away from the press and tv, she is truff as nails, ask daddy Murdoch, he knows first hand about her temper so does the rest of the board..
This comment has been removed.
10:43 AM on 05/03/2012
You don't expect the board to do otherwise....they've got to think of their share price.
Anyway in the words of that political genious - David Cameron - they're 'all in it together'
so backs are being covered and damage limitation is in full swing.
01:33 PM on 05/03/2012
sad but true . . .
10:34 AM on 05/03/2012
Tories are desperate to stay in unelected power ....what have they done i wonder?