Slowly, and inevitably, British scandals are beginning to take their toll on Murdoch’s News Corp.
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It looks like the phone-hacking scandal might be doing more damage to Rupert Murdoch's News Corp. empire than was previously believed.
The New York Times' Amy Chozick reports:
For months, News Corporation’s buoyant stock price and solid financial performance, driven by the strength of its United States television assets, had allowed executives based in New York to paint the scandal as an unfortunate but isolated series of events at the British tabloids, a tiny part of the overall business.
But the events in Britain and the resulting scrutiny have begun to take a toll on the broader empire, according to at least a dozen people familiar with the company, including several former News Corporation executives.
On Tuesday, the Culture, Media and Sport Committee of the British Parliament is expected to release a report that could further damage the company’s reputation.
A few signs of the wider fallout? The F.B.I. is investigating a former News Corporation Russian subsidiary for possibly bribing local officials in Moscow, which could result in prosecution under the Foreign Corrupt Practices Act; the scandal has stymied News Corp's push into the education sector; a bid for Turkey's second-largest media group may come up against regulatory opposition.
Meanwhile, Tom Watson's new book, Dial M for Murdoch, is making waves both in England and the U.S. Watson is the member of Parliament known for being one of the Murdochs' more aggressive interregators during last summer's phone-hacking hearings in the U.K.
In other news...
The latest addition to Dan Abrams' blog empire is a food site focused on celebrity chefs. [The New York Times]
DNAinfo has launched in the outer boroughs with an expanded staff. [DNAinfo]
CNBC is reportedly "freaking out" over the ratings for Andrew Ross Sorkin and Maria Bartiromo. [Daily News/Gatecracher]
The American Prospect is in danger of closing in May. [The Huffington Post]
The Economist has become one of the few magazines to take advantage of the Audit Bureau of Circulations' new circa data reports for individual publications. [Adweek]