A powerful group of 18 financial heavyweight shareholders from around the world are calling for Rupert Murdoch to resign his position as chairman of News Corporation. The shareholders include British investors Aviva and Legal & General, and have signed a letter calling for a new independent chairman in light of the phone hacking scandal, and that they will support this proposal and call for these changes when the media group meets in October. This is the first time a significant number of investors have risen up against the running of the company where the Murdoch family owns 40 percent of the voting shares of New Corp.
“We believe it is important for News Corporation to uphold the highest standards of corporate governance in order to protect the value of our investment. Given the recent reputational, legal and regulatory risks brought about by allegations of phone hacking and payments to police officers by News Corporation subsidiaries in the UK… we believe the board is in need of independent leadership.”
Currently, Murdoch is considering splitting the News Corporation in two, separating the publishing assets from its entertainment arm, as he has assets like the Fox Television Network and Wall Street Journal, and many say the decision to consider this move was due to the phone hacking scandal, where the Murdoch owned News of the World closed down and forced News Corp to ditch its takeover of BSkyB’s portion of the company it did not yet own. The investors see the split as an opportunity:
“The board’s announcement of its intention to split the company into separate media and publishing arms presents a unique opportunity for serious governance reform. Appointing an independent chair at News Corp and its successor companies will go a long way to restoring shareholder confidence. We hereby urge the board to seriously consider the request put forward by the shareholder resolution and agree to appoint an independent chair at News Corp and its successor companies who has not served as an executive of the company or its subsidiaries.”
No word from Murdoch as to a response to the letter.
Story is HERE.
Some big puppets are being taken down, and this Jesuit/Zionist(?) media magnate is not an exception. At this point, it’s a matter of when Rupert Murdoch will go down, as there are so many different scenarios where a smoking gun emerges and he’s damned, because there are only so many editors that will play sacrificial lamb before the big con man himself is implicated.
The fact that his stint as chairman of News Corp. is under threat is more indication that things are beginning to change at the wheel of the megacorp media company, and is a welcome and positive breath of fresh air. Sanity has to return, and Murdoch should not be at the helm of a company when Rupert Murdoch is becoming a liability to the company due to his continued illegal behavior and bad acts.