Sunday, October 23, 2011

#Hackgate : #Murdoch Urged To Sell Off Newspapers By Top News Corp. Shareholders!


"I'd like for them to sell all the newspaper businesses," Kevin Holt, a senior fund manager at Invesco, told The Sunday Telegraph. "It's a digital world now and the competitive advantage that newspapers had has been competed away."
The call from Invesco comes as News Corp defeated an attempt on Friday by investors to oust Rupert Murdoch, his sons, James and Lachlan, and several other directors from the board of a company whose papers include The Sun in Britain and The Wall Street Journal and The New York Post in America.
While the rebellion at News Corp's meeting in Los Angeles was thwarted, the scale of the protest at a company dominated by the Murdoch family will not become clear until the voting figures are revealed later this week.
Invesco, which owns about 14m of the key B News Corp shares that carry voting rights, declined to say how it cast its votes on the re-election of a board heavily criticised for its response to the phone-hacking scandal that erupted over the summer.
"Was I disappointed with the UK situation? Yes, for sure," Mr Holt said. "But we don't own the stock because of the UK newspaper print business. We own it despite the UK newspapers." more