UK govt committee reports on N.I. and Phone-hacking

On the basis of the facts and evidence before the committee, we conclude that if at all relevant times Rupert Murdoch did not take steps to become fully informed about phone hacking, he turned a blind eye and exhibited wilful blindness to what was going on in his companies and publications. This culture, we consider, permeated from the top throughout the organisation and speaks volumes about the lack of effective corporate governance at News Corporation and News International. We conclude, therefore, that Rupert Murdoch is not a fit person to exercise the stewardship of a major international company.

The report (800 KB PDF) may increase the likelihood that U.K. regulator Ofcom concludes News Corp. is unfit to hold a broadcasting license and asks the company to reduce its 39 percent stake in British Sky Broadcasting Group Plc. (BSY) The phone-hacking scandal prompted News Corp. to abandon a 7.8 billion-pound ($12.7 billion) bid for the rest of BSkyB, the U.K.’s biggest pay- television provider, last year. – Bloomberg