Rupert Murdoch unfit to run business, rule British lawmakers
May 2 , 2012
British lawmakers investigating phone hacking at the tabloid News of the World ruled on Tuesday that global media tycoon Rupert Murdoch is “not a fit person” to run a major international company.
The ruling could enable industry regulators to force him to sell his controlling stake in British Sky Broadcasting, which forms a significant portion of his media empire.
Ofcom, the British media regulator, maintained it “has a duty under the Broadcasting Acts of 1990 and 1996 to be satisfied that any person holding a broadcasting license is, and remains, fit and proper to do so.”
News Corp, which Murdoch heads as chairman and chief executive, has accepted responsibility for some of his failings but dismissed the more critical remarks made by lawmakers.