Hacking scandal earns News Corp. credit warning

[salin]

Source: AFP

NEW YORK — Standard & Poor's on Monday placed News Corp.'s credit rating on a negative watch citing "increased business and reputation risks" from investigations into the widening phone hacking scandal in Britain.

"Since our last research update on July 13, the UK legal process has expanded and pressure from US lawmakers has increased for an FBI probe" into the practices of News Corp.'s media holdings in both countries, S&P said.

Read more: http://www.google.com/hostednews/afp/article/ALeqM5h5Yhnt1kUEFMcYjOZKsiIEvF5vBA?docId=CNG.ada716ced71318ea0135c1e6ff5f8e4a.211

[Sarah Ibarruri]

1. Music to my ears! nt

[salin]

2. eons more to go for this story to do real damage to the insidious noise machine

but the trainwreck over in the UK - is showing that the unthinkable ala the untouchable - can happen.

[Sarah Ibarruri]

3. Apparently this is having huge repercussions. I'm a happy camper these ahs got caught nt

[hyphenate]

15. It all has to start somewhere

and starting in UK has given Americans the chance to deliberate all the goings-on. People in the US will have time to digest it all when it finally blows up here, and Fixed Newa is thrown into the middle of it all.

I anticipate it will be a hard fought battle with Faux, though--too many powerful people behind it here. And it might manage to get through the next voting cycle in the meantime. I can only hope that when it does happen, that it takes the radical religious right with it at the same time.

[mcollier]

4. Fox News Alert!!!! Fox News is FUBAR!

No Casey Anthony Dog Wagging story to divert attention... Oh no, panic mode...

[City Lights]

5. Ha ha!

Hitting 'em where it hurts! :bounce: :party: :beer:

[safeinOhio]

6. Your beloved free market at work.

suck on it and quit crying.

[salin]

10. true

[femrap]

7. I hope News Corp has to

liquidate. That would be simply delicious....to buy a piece of News Corp.

[Uncle Joe]

8. Kicked and recommended.

Thanks for the thread, salin.

[RUMMYisFROSTED]

9. AKA "Pretending."

good show

[Imagevision]

11. Ultimately big business will decide whether Murdoch is investigated...or NOT

[Ichingcarpenter]

12. News Corp. Gets Credit Warning in Wake of Phone Hacking Scandal

Source: reuters

News Corp.'s credit rating was put on a negative watch by Standard & Poor's Monday because of "increased business and reputation risks" over the company's phone hacking scandal, Agence France Presse reports. S&P cites investigations into Rupert Murdoch's media empire in both the U.K. and the U.S.

News Corp.'s stock price continued to fall Monday, hitting $14.96, a drop of 4.4 percent, the Associated Press reports. Shares have lost 15.5 percent this month.


Read more: http://www.theatlanticwire.com/business/2011/07/news-corp-gets-credit-warning-wake-phone-hacking-scandal/40119/

---

More good news for the old fart.

[Aerows]

13. I enjoyed watching their stock price

plummet all day. That's called hitting them where it really hurts. Murdoch sunk a bunch of dough into buying back shares to stop the bleeding last week, and it was all for naught.

Couldn't happen to a more fitting scumbag.

[Lone_Star_Dem]

14. It just keeps getting better.

If nothing else even comes from all this, it's fulfilling to see Murdoch's empire crumbling down around him.