Advisory Firm Suggests Rupert Murdoch Get The Boot
RENEE MONTAGNE, HOST:
NPR's business news starts with News Corp. under fire.
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MONTAGNE: A major advisory firm for investors is urging shareholders to oust Rupert Murdoch and his sons from the board at News Corp. Institutional Shareholders Services says the phone-hacking scandal, quote, "laid bare a striking lack of stewardship and failure of independence." The scandal cost the company a $12 billion acquisition, forced the closure of the tabloid News of the World, and led to the arrest of several executives. The advisory firm recommended against re-electing 13 of the 15 News Corp. board members when shareholders hold their annual meeting in two weeks.
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