Saturday, July 9, 2011

Rupert Murdock

The storm clouds brewing over Rupert Murdoch's UK media empire are set to move closer, with the arrest of up to five employees expected within days, sources familiar with the situation told Thursday.

Nick Laham
Getty Images

Rupert Murdoch


News Corp [NWS 17.33 -0.60 (-3.35%) ] shares fell in New York as advertisers pulled out of the News of the World, the tabloid newspaper at the center of allegations that the voicemails of murder victims, relatives of British soldiers killed in Iraq and Afghanistan and people killed in the July 7 bombings, were hacked into in an effort to find stories.

British Culture Secretary Jeremy Hunt has received around 100,000 submissions about NewsCorp's planned takeover of British Sky Broadcasting (BSkyB) in the past week, meaning that a final decision on the takeover will not be made until September, the BBC reported Thursday.

Shares in BSkyB [BSY-LN 750.00 -62.00 (-7.64%) ] fell in London this morning.

If it don't cross the pond it will be a miracle