Murdoch Faces Down His Shareholders

A protester outside the shareholders meeting.
Reuters
Eric Randall 387 Views Oct 21, 2011

Update 5:56 p.m.:  Also, Reuters reports that News Corp. announced that all its directors were elected, and a proposal regarding an independent chair of the board was not approved.

Rupert Murdoch was repentant but stood his ground while facing angry critics at an annual shareholder meeting in Los Angeles today. Many came to the meeting to press Murdoch on the way his company has dealt with allegations of journalistic misconduct and hacking at its media outlets and to demand he step down. British member of parliament Tom Watson, who has led the investigation and criticism of News Corp. (and became a shareholder so he could attend the meeting) even raised new allegations that Murdoch's now-dead News of the World hacked computers as well as cell phones.  Reuters reports

"I promise you absolutely that we will stop at nothing to get to the bottom of this," Murdoch said in response to Watson's claims.

Murdoch was feisty in defending his company. At times, he pounded his fist on the podium, but he was generally good natured, at times smiling and laughing as he interrupted speakers.

Yahoo News's Dylan Stableford reports that the shareholder meeting brought not just those who wanted to address the hacking scandal, but shareholders with all sorts of questions and comments, which led to some funnier confrontations as well:

There was the shareholder who wanted to know what Murdoch and News Corp. were doing to protect animals in Australia. Then there was the 7th grade teacher who wanted to know what Murdoch, who gave a speech about education last week in San Francisco, said in that speech. "I was busy teaching," she said. "You should read the Wall Street Journal," Murdoch told her.

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