January 28, 2012
In the Region W. Conshy office building sold MIM-Hayden Real Estate Funds bought Five Tower Bridge, an eight-story office building in West Conshohocken, from KBS Real Estate Investment Trust of Newport Beach, Calif., in a deal worth $70 million, including the assumption of a $40 million mortgage. The sales price is a little less than the $73 million that KBS paid for the 226,000-square-foot tower in October 2008. - Joseph N. DiStefano Murdoch to leave Glaxo board GlaxoSmithKline P.L.C.
November 11, 2011 |
LONDON - He didn't see. He wasn't told. He didn't know. Called back to Britain's Parliament after former News Corp. employees challenged his credibility, senior executive James Murdoch insisted that he had been kept in the dark about widespread phone hacking at his now-defunct News of the World tabloid, blaming two of his senior lieutenants for failing to warn him of the paper's culture of criminality. "None of these things were mentioned to me," he told an often-skeptical House of Commons media committee.
December 15, 2011 |
LONDON - A former top lawyer for Rupert Murdoch's British newspapers insisted Wednesday that he told the mogul's son there was evidence of widespread phone hacking at the now-defunct News of the World tabloid. Tom Crone questioned contentions made by James Murdoch - chairman of News International, the British arm of his father's media empire - that he had not been informed about an e-mail indicating that hacking was rife. For months, News International insisted the illegal accessing of the cellphone voice messages of celebrities and crime victims was confined to reporter Clive Goodman, who, along with private investigator Glenn Mulcaire, was jailed in 2007.
November 14, 2012 |
LONDON - Few seem to be enjoying the management meltdown at the venerable BBC more than Rupert Murdoch, the News Corp. chief whose rival British newspapers have been caught up in their own lengthy, embarrassing, and expensive phone-hacking scandal. But the troubles for both media organizations highlight the fact that the news industry in Britain is at rock bottom in public esteem, and could face increased restrictions from the government of Prime Minister David Cameron, which appears convinced that the industry has been unable to police itself.
April 25, 2012 |
LONDON - News Corp. executive James Murdoch's behind-the-scenes lobbying campaign spilled out into the public domain Tuesday, casting a harsh light on the British government's Olympics czar. Murdoch was speaking before the media-ethics inquiry set up in the aftermath of the country's phone-hacking scandal, which has shaken the British establishment with revelations of journalistic misdeeds, police corruption, and corporate malpractice. Some of Murdoch's testimony revisited his own role in the scandal, but far more explosive were revelations about how senior British ministers went out of their way to smooth the path for one of his biggest-ever business deals.
March 1, 2012
Portugal: Fugitive won't go to U.S. LISBON, Portugal - Portugal won't extradite American fugitive George Wright for crimes he committed in the United States four decades ago, after Washington ran out of possibilities to appeal the decision to let him stay, a Portuguese court official said Wednesday. Portuguese police captured Wright near the capital, Lisbon, in September, ending his more than 40 years on the lam after escaping from a New Jersey prison. Wright was convicted of the murder of Walter Patterson in Wall Township.
July 29, 2011 |
LONDON - Satellite broadcaster British Sky Broadcasting PLC confirmed widespread speculation by announcing a big return of cash to shareholders while reporting a 23 percent gain in operating profit. The satellite broadcaster, which is 39 percent owned by Rupert Murdoch's News Corp., said Friday it is raising its full-year dividend by a hefty 20 percent and revealed plans for a 750 million pounds ($1.2 billion) share buyback program. "This may not be enough for the mega bulls, but a good start in our view," said Steve Liechti, analyst at Investec Securities.
July 12, 2011 |
LOS ANGELES - As investors punished News Corp.'s stock again yesterday, questions arise anew about the leadership abilities of its chief executive, Rupert Murdoch. The phone-hacking scandal in Britain now threatens to engulf top executives, and has hobbled the company's stock, which has stagnated for a decade. If News Corp. operated like many corporations in the midst of scandal, the CEO's job would be in jeopardy. But the media conglomerate runs more like a family dynasty, and analysts suggest that Murdoch, its 80-year-old patriarch, is likely to maintain his grip for now. As the company's chief executive, Murdoch presides over an empire with a wide array of media assets, including the Fox broadcast network, cable channels such as FX and Fox News, TV stations, the 20th Century Fox movie studio and newspapers around the world, including the Wall Street Journal, the New York Post and the Sun , in the U.K. He controls the company through a family trust that owns 40 percent of the voting stock and the largest chunk of News Corp.'s shares at 12 percent.
July 8, 2011 |
BRITAIN'S News of the World , a Tattle favorite due to its lurid tabloid coverage of scandal and violence and home to some of the most detailed accounts of celebrity sexcapades, is closing after more than 100 years. The last issue is Sunday, and 200 people will lose their jobs. In a bizarre counter to the current trend, News of the World is not closing because of low sales but because its owner, Rupert Murdoch 's News Corp., has suddenly found a moral compass - one that was located with the help of boycotts, departing advertisers and possible litigation.
July 24, 2011 |
Perhaps, like me, you've become a devoted fan of the season's most gripping entertainment, not the final installment of astigmatic wizard H. Potter but the byzantine machinations of Rupert Murdoch, his empire's tentacles seeming to grasp and taint every aspect of British power. The phone-hacking scandal is riveting, but not exactly shocking, like much of what is happening this summer. Murdoch, long a mythic figure wielding extraordinary political influence on both sides of the Atlantic as well as in other countries, has long been viewed as a ruthless titan, willing to do and spend whatever it takes to get what he wants.