scandal

Ex-Olympus CEO Plans to Sue Company

Juro Osawa, Reporter, The Wall Street Journal in Voices on January 6 at 4:30 am PT

Ousted Olympus Corp. Chief Executive Officer Michael Woodford said Friday he plans to sue his former employer for firing him without any legal basis, only hours after announcing his decision to drop his attempt to retake the company’s reins.

News Byte

James Murdoch Returns to Parliament for Another Round of PhoneGate Testimony

Peter Kafka in Media on November 10, 2011 at 3:57 am PT

James Murdoch, News Corp.’s deputy chief operating officer, is once again testifying before the U.K. Parliament about his role in this summer’s PhoneGate scandal. Lawmakers are accusing Murdoch — who at one point had been the presumed successor to his father, Rupert — of not being truthful during the two men’s July appearance. You can watch the event live via this Webcast; News Corp. also owns this Web site.

Olympus Coverup Spooks Investors

Phred Dvorak and Daisuke Wakabayashi, Reporters, The Wall Street Journal in Voices on November 9, 2011 at 12:00 am PT

Olympus Corp.’s admission that it hid investment losses raised as many questions as it answered: not just about the full extent of the scandal, but even about the viability of the 92-year-old company.

News Byte

News Corp. Beats Estimates, Doesn’t Miss MySpace

Peter Kafka in News on November 2, 2011 at 1:14 pm PT

Most big media companies are posting upbeat Q3 earnings reports, and News Corp., which also owns this Web site, has done the same. Revenues were up 7 percent, to $7.96 billion, in line with Wall Street expectations of $7.67 billion.; the company posted adjusted earnings of $0.32 per share, beating the $0.29 consensus. Last summer’s (continuing) phonegate scandal showed up several times in the earnings report, including a $91 million charge related to the closure of the U.K.-based News of the World. On the other hand, not owning MySpace appears to have saved the company around $57 million in quarterly losses.

News Corp. Chief Faces Angry Investors

Martin Peers and Andrew Morse, Reporters, The Wall Street Journal in Media on October 21, 2011 at 12:23 pm PT

Rupert Murdoch, chairman and chief executive of News Corp., on Friday faced shareholders for the first time since a phone-hacking scandal at its UK newspaper unit embroiled the company and heightened criticism of what some see as a lack of independent oversight.

News Byte

U.K. Parliament Wants to Hear From James Murdoch Again

Peter Kafka in Media on July 29, 2011 at 6:50 am PT

James Murdoch will likely be asked to make a return trip to Parliament. British lawmakers say they expect to recall the News Corp. official, who answered questions about the PhoneGate scandal during a July 19 hearing, because former News Corp. employees have since contradicted his testimony. (News Corp. also owns this Web site.) Separately, the board of satellite TV company BSkyB has voted to keep Murdoch in his chairman spot; News Corp. owns a 39 percent stake in that company.

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