News Corp Shareholders Plan To Sue Board Over Phone Hacking

A group of News Corp shareholders are attempting to sue members of its board over their inability to stop the culture of phone hacking within the firm. Although the firm is attempting to have the case dismissed, the group yesterday petitioned a Delaware court judge to be given the green light to proceed. The case was originally over what was seen as a nepotistic acquisition of Rupert Murdoch's daughter's production company, but has since been amended following the hacking scandal.

Meanwhile, British media regulator Ofcom has today cleared Sky of being unfit to hold a broadcasting license. The conduct of former BSkyB chairman James Murdoch was, however, criticized. "On the basis of the evidence available to date, James Murdoch's conduct in relation to events at NGN [the newspaper group] repeatedly fell short of the conduct... expected." While cleared of wrongdoing, the regulator called his competence into question.

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