News Corporation withdraws the bid

So, Murdoch and the News Corporation has withdrawn its bid to takeover BskyB in the face of massive public outcry over the amoral working methods of his news gathering operation, and the fatal pressure of an all-party accord to force him to withdraw. It was "too difficult to progress in this climate" - understatement of the century!

It as hailed by Ed Milliband as a victory for the British public - so thanks to Avaaz.org and everyone who added their pressure in this.

The share price for both BskyB and News Corporation have taken a battering and written $5Bn off NI valuation. Undoubtedly the groups will bounce back once Murdoch has crawled back under his stone and licked his wounds. That may be made more difficult as several major advertisers are instructing their agencies to cancel advertising across the News International websites; the printed media is sure to follow suit.

Now we have further questions being asked as to whether James Murdoch is himself a "fit and proper" person to be allowed to hold a broadcasting license in the UK. the Government enquiry may well grind on for a couple of years before we know what shape the landscape becomes.

Whether NI will regroup and make another bid in 6 months or so remains to be seen. Certainly there are discussions afoot to look at far tighter regulation on ownership of broadcast and published media.

The news rolls on...

Murdoch Empire crumbling - maybe

http://gawker.com/5820243/jon-stewart-tackles-the-news-of-the-world-scandalAfter managing a cunning manoeuvre to get the best possible outcome of this past week's corporate horrors and closure of NOTW, News International are now in the stronger position that regulators will review the deal solely on plurality, so wit hone less Newspaper title, that will make it an even more favourable position for them.

That does not take into account the outrageous immorality of his company's practices. It seems from the ongoing wave after wave of disclosures from all the Murdoch stable or papers that there has been a gradual erosion of any morality, so that if an investigation involved an 'illegal' practice, that was just an inconvenience to be got round.

Do you trust this man to be a "fit and proper" broadcaster?

But British law says media owners must be "fit and proper" to be trusted with broadcast licenses. That is something that News International cannot hope to be considered - not in a month of Sundays (even without a NOTW ;) ) 

So as many as possible are being asked to support the Avaaz petition and let your MP and the Secretary of State know how you feel.


This US TV show with Jon Stewart sums the whole sorry fiasco of Murdoch and the sorry procession of police and politicians in his pocket...