Page 2 of 2 FirstFirst 12
Results 11 to 13 of 13

Thread: News of the World to close amid hacking scandal

  1. #11
    Global Moderator
    Bodhidarma approves bigly
    Andalublue's Avatar
    Join Date
    Feb 2010
    Location
    Granada, España
    Last Seen
    11-29-17 @ 01:21 AM
    Gender
    Lean
    Libertarian - Left
    Posts
    26,111

    Re: News of the World to close amid hacking scandal

    Yes, pete, I do take the sceptical view. I worked for Murdoch for 3 years and I know that nothing is done under the pressure of public or political coercion. This strikes me as the plausible and likely motivation behind the move...

    The closure of the News of the World could be a cunning ploy to legally shred any incriminating evidence linked to the phone hacking scandal, according to a prominent media lawyer.

    Mark Stephens, head of media with Finers Stephens Innocent lawyer, said under British law the paper "may not be obliged to retain documents that could be relevant to civil and criminal claims against the newspaper—even in cases that are already underway."

    If News of the World is to be liquidated, Stephens told Reuters, it "is a stroke of genius—perhaps evil genius."

    All of the assets of the shuttered newspaper, including its records, will be transferred to a professional liquidator (such as a global accounting firm). The liquidator's obligation is to maximize the estate's assets and minimize its liabilities. So the liquidator could be well within its discretion to decide News of the World would be best served by defaulting on pending claims rather than defending them. That way, the paper could simply destroy its documents to avoid the cost of warehousing them—and to preclude any other time bombs contained in News of the World's records from exploding.
    From The Guardian, the paper who single-handedly brought the scandal to light.

    News of the World closes
    "The crisis will end when fear changes sides" - Pablo Iglesias Turrión

    "Austerity is used as a cover to reconfigure society and increase inequality and injustice." - Jeremy Corbyn

  2. #12
    Sage
    PeteEU's Avatar
    Join Date
    Mar 2006
    Location
    Denmark
    Last Seen
    Yesterday @ 04:35 PM
    Gender
    Lean
    Centrist
    Posts
    29,090

    Re: News of the World to close amid hacking scandal

    First arrests made. The former right hand man of the Prime Minister turned himself in. His house has been searched and material taken away.

    The soon to be laid off News of the World people have had their internet access cut off in the news room plus guards have been posted on the floors... the people are not happy about this to say the least.

    Question is why the police have not raided Newscorp yet... bet the shredders are glowing at the moment ..
    PeteEU

  3. #13
    Sage
    sangha's Avatar
    Join Date
    Jul 2011
    Location
    Lower Hudson Valley, NY
    Last Seen
    09-17-17 @ 05:48 PM
    Gender
    Lean
    Independent
    Posts
    59,990

    Re: News of the World to close amid hacking scandal

    Quote Originally Posted by PeteEU View Post
    First arrests made. The former right hand man of the Prime Minister turned himself in. His house has been searched and material taken away.

    The soon to be laid off News of the World people have had their internet access cut off in the news room plus guards have been posted on the floors... the people are not happy about this to say the least.

    Question is why the police have not raided Newscorp yet... bet the shredders are glowing at the moment ..
    And Rupert is working hard to save his empire

    News Corp plans $5bn share buyback | Media | The Guardian
    News Corp plans $5bn share buyback

    News Corp has announced plans to buy back $5bn (£3.2bn) of its shares in an attempt to halt the slide in value of Rupert Murdoch's media empire.

    The growing phone hacking scandal has sent News Corp's shares down 13% since the story first broke. The share price collapse had wiped more than $5bn off the market value of News Corp. The drop was most painfully felt by the Murdoch family, which with a 39.7% shareholding, saw its paper fortune reduced by more than $2bn.
    It's not just about closing one paper. The market is losing confidence in NewsCorp. This could bring down his entire empire. Not just in the UK, but in the US also. Already, several congressmembers have called for a US investigation of this matter
    Last edited by sangha; 07-14-11 at 09:59 AM.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

Page 2 of 2 FirstFirst 12

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •