The Guardian/News Blog: News Corporation annual shareholder meeting – as it happened.

[pacalo]

If you're interested in an inside view of how Rupert Murdoch conducts himself when cameras aren't around, this is a good read.

Dan Sabbagh, the Guardian's head of media and technology, gives each agenda item a short summary & it gets interesting whenever he describes Murdoch's behavior.

One fact that I didn't know:

Tom Watson, the Labour MP, has flown over from the UK to try and challenge the Murdochs at the meeting with the help of proxy vote on behalf of the American labour union, the AFL-CIO. There will be questions from the floor from investors, as well as Watson if he gets his way.

Re: Photo:Tom Watson has tweeted a picture of himself on the News Corporation bus, taking him to the annual meeting venue at Fox. He seems quite pleased with his "stockholder" badge.

Stephen Mayne, director of the Australian Shareholder Association is now speaking. He's not mincing his words, talking about "gross underperformance" of the company, a "gerrymandered" two-tier share structure. Director Viet Dinh is godfather to Lachlan Murdoch's child, he says. "You've treated us like mushrooms for a long time. It's time to get with the programme."

(...)

Stephen Mayne is back up at the mic now, complaining that Murdoch is attempting to close the debate down in an "anti-democratic and embarassing" manner. "I think we can stand our embarrassment," Murdoch replies, pointing out that Tom Watson had been on Fox News this morning. "That's fair and balanced," Murdoch says, in a wry reference to the channel's much-derided slogan.

More: http://www.guardian.co.uk/media/blog/2011/oct/21/news-corporation-annual-meeting-live?commentpage=last#end-of-comments

[dixiegrrrrl]

1. Looks like Murdoch is trying to buy some peace:

Murdoch has today announced that he will make a personal donation of £1m (about $1.6m) to charities chosen by the family of the murdered British schoolgirl Milly Dowler, whose phone was hacked by the News of the World. News Corporation will pay a further £2m will paid to the Dowler family in compensation.

[pacalo]

2. The timing of that announcement was a bit self-serving, wasn't it? The same day as the

yearly shareholders' meeting?

I hope the Murdochs have a mountain of civil suits against them by the time the UK gets through with them.