New York-based media conglomerate News Corp. is scrambling to contain the damage from the hacking scandal spawned by one of its British tabloids. With investigations and parliamentary committees garnering headlines in the United Kingdom, Rupert Murdoch’s media empire wants to hold the fort in the United States and is gathering an army of consultants in investor relations, policy relations and public relations to smooth the domestic waters, according to a Wall Street Journal report
With News Corp. shares dropping 7 percent in the last week, chief operating officer Chase Carey
raced home to New York to reassure the financial community. Tops on the agenda: tapping a permanent replacement for Les Hinton, until recently the chief executive of the Dow Jones & Co., the division that publishes The Wall Street Journal.
Most worrisome perhaps is The Federal Bureau of Investigation, which is hard at work investigating whether the phones of 9/11 victims or their families were violated by any News Corp. publication.
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