that has depressed the share price and market value of news corp. it's very likely that there may be somebody other than a murdoch running the company in the future. >> susie: let's talk a little. we were talking to a big institutional shareholder who is very concern body the outlook for this stock. would you buy news corp at $16. is this an opportunity for investors, or is it too risky? >> near term with the $5 billion share buy back that mr. murdoch announced tuesday that begins on august 5th, i think near term, it's probably a buy at news corp, but long term, you have to wait until the dust settles. there's too much uncertainty, and potential liability that the company and senior managers are facing. that want to invest long term. >> susie: there was an article in "newsweek" written by carl bernstein under the title, murdoch's watergate and saying that this is the beginning of the end of the murdoch empire. your thoughts on that. could that be the case? >> i don't think the empire is going to crumble any time soon. but what i think we are seing i

the corps and the e.p.a. must be able to protect water quality irrespective of whether individual states do. 16 different sportsmen groups oppose the prohibition in this bill as do over 100 conservation groups. when wetlands are destroyed and streams are polluted, sportsmen are the ones to be first impacted. hunting and fishing contribute more than $65 billion to the economy, breathing life into rural community and supporting millions of jobs across the country. but these benefits are in jeopardy with this bill. since 2001, safeguards for headwater streams and critical wetlands have steadily eroded. wetlands and tributaries that provide life to the chesapeake way, help retain floodwaters and provide important fish and wildlife habitat are now dengered. these economic and environmental ben -- are now endangered. these economic and environmental benefits are now hurting. some critical waters will be part of the sewage dumping and industrial pollution. some will be filled in for development. bear in mind, much o

." >>> the news corp. boss and his son were defined as they said they had no knowledge of wrongdoing, but our shareholders happy? >> the admission from rupert murdoch that he knew little or nothing about what was happening in certain parts of his business empire does not encourage confidence. >> a much anticipated event, but did it deliver? will anything change? >> i am an optimist. i think if they did not change, that we will get a more accountable and responsible press that is not capable of committing criminal acts. >>> rupert murdoch and his son, james, faced a grilling as british politicians attempted to find out if they know anything about alleged phone hacking. both denied any knowledge of wrongdoing and were apologetic about what went on. he described the day as the most humble of his life. investors seemingly approved of what was said. news corp.'s share price rose by the close of sale tuesday. has the storm been weathered? has dominatedng politics here for weeks, but is it just a storm in a briti

is now on by news corp or news corp and it is here is not going to give shareholders in news corp a real story on this and what it could mean to their to their bottom line and that's that's a real problem you don't get real news when when so much power is concentrated if you want to jump in there. i just wanted to take issue with the optimistic note kevin struck imagining. this the fallout from the scandal would ultimately be good for democracy my worry is that if the fallout from this scandal is greater regulation of the press and much more rigorous enforcement of the existing laws as they affect the press is the you'll end up with a very regulated print media which will then be unable to compete with the completely unregulated internet media. i'm not sure that if people become less reliant on the print media even on television news and more reliance on what they can in from the internet that that would be good for the market can you want to reply to that that's an interesting point well of course where we're actually seeing much less reliance on the print media the court the corporate

any american corp. has to comply with these laws. rupert murdoch decided he wanted to become an american citizen. i do not blame him. america is the greatest place in the world, i say to you. the fact of the world is, he became an american citizen. his corporation is american. he needs to obey american law. the stories coming out of europe about bribing police officials, on its face, that is not allowed under the foreign corrupt practices act. the allegations that he may have packed into families of the victims of 9/11, -- hacked into families of the victims of 911, that is not 11th pick -- that is not allowed. >> at this point, those are just allegations, correct? >> absolutely. >> the hacking of funds here and the bribing of officers -- phones here and the bribing of officers here, were he to be found at fault, would that mean that his newspapers could be prosecuted in america? >> he cannot bribe officials anywhere in the world. this act was signed in the 1970's. there was concern about corporations paying of different people, and

as for news corp's u.s. shares they sank to a six-month low monday dropping another 5% and the company's loss more than $8 billion in market value in the past two weeks alone. july 5th, which was when those allegations about the scandal started to surface and at that time news corp's share price was $18.54, let's move on, by july the 11th, news corp stock actually reached over $16 a share. now that was the week that rupert murdoch withdrew his bid for bskyb, bring it up to date, this week and here's the share price for this week, and july 18th, monday share price was $15.40. that following the arrest of rebekah brooks, which as some of you may be aware was on sunday. so the political pressure may spread beyond the uk. pay tv fox corps has a $2 billion bid out and will see if it goes the same way as the bskyb bid which was withdrawn. >> a news corp newspaper, it goes far beyond the street. >> news corp is being shaken by the hacking scandal but over the last few decades rupert murdoch has built quite an empir

you say problem, news corp. says opportunity. news corp. set its sights on taking this little company down. they had the right guy to do it, according to a fortune magazine profile, crushes a rival's skull with a baseball bat. who better to take down this puny company than the baseball bat crusher guy. rupert murdoch's news america began to play hardball with floor graphics so so much so that in 2006 floor graphics had enough, filed an unfair news practice against news america. by breaking into our password protected computer system and obtaining proprietary information. this complaint filed in new jersey federal court in 2006 accuses rupert murdoch's they had the right guy to do it, according to a fortune magazine profile, crushes a rival's skull with a baseball bat. who better to take down this puny company than the baseball bat crusher guy. rupert murdoch's news america began to play hardball with floor graphics so so much so that in 2006 floor graphics had enough, filed an unfair news practice against news america. by breaking into our

the army air corps was all white. the only african-americans who had positions in the army air corps worker looks, janitors, security personnel who guarded the fence around the base. the generals in charge of the army air corps like that way. they had come up in world war i when the army air corps was all white. that was the world they knew. they liked it that way and expected to stay that way. they had no plans whatsoever to include african-americans in any way in their branch of the service. they had some research backing them up. following world war i they commissioned a study called the use of negro man power in war that was meant to study are african-americans performed in world war i and to use that research in planning for the next war. this was created in 1925 but still form the basis of army human resources policy as late as 1939-1940. it began under the terms of the constitution the negro has the rights of citizenship and as evidence he must bear his share of the war. it continues the negro is physically qua

news corp has admitted to hacking an american company and fox news be the next to correct. you need to know this the american people have spoken and it's time republicans and democrats listen according to a new a.b.c. washington post poll sixty two percent of americans want to see a balanced approach to raising the debt limit that includes both spending cuts and revenue increases and when it comes to what sort of revenue raises the american people want to see republicans heads are about to explode a whopping seventy two percent of americans support raising taxes on people who make more than a quarter million dollars a year only twenty seven percent oppose not only that large majorities of americans also support raising the social security tax cap closing the hedge fund manager tax loophole and cutting off taxpayer subsidies for big oil corporations curiously none of these reforms are part of the gang of six deal. now all the rage on capitol hill but a new gallup poll renders what's going on atop capitol hill today completely meaningless according to gallup most of us frankl

you say problem, news corp. says opportunity. news corp.ittle company down. they had the right guy to do it, according to a fortune magazine profile, crushes a rival's skull with a baseball bat. who better to take down this puny company than the baseball bat crusher guy. rupert murdoch's news america began to play hardball with floor graphics so so much so that in 2006 floor graphics had enough, filed an unfair news practice against news america. by breaking into our password protected computer system and obtaining proprietary information. this complaint filed in new jersey federal court in 2006 accuses rupert murdoch's american supermarkets services companies of hacking into their computer data base. on at least 11 separate occasions, news america intentionally, knowingly, and without authorization breached our secure computer system and repeatedly accessed, viewed, and obtained our private information. how did they know it was news corp.? our investigation traced the unauthorized access to a computer with an ip address registered at the t

news corp.ceo and his son appeared before british legislators in a dramatic hearing that the elder murdoch called the most mumble day of my life. >>> stock jumped in australia and also in new york specifically in response to the murdochs' comments. the scandal has made a significant debt in the family's wealth pile. news corp. stocks fell by more than 12% in response to the hacking claims and the subsequent public outrage that followed. as a result, the shares owned by the murdoch family have loved more than $750 million in terms of their value. it's still worth remember that the family's stake in news corp. is worth more than $5 billion. the british prime minister david cameron could be in for a rough day as well today himself. he'll be facing parliament less than two hours from now addressing the news corp. phone hacking scandal head on and also what his opponents describe as a cozy relationship with news corp. executives like these two. his appearance comes hot on the heels of a parliamentary

as the top executives from news corp and prime minister david cameron have all been paraded before m.p.'s know how to answer some very tough questions a lot of media surrounding that but now and i should add that this is just reports coming from the media that alexander lebedev hasn't confirmed this himself but it looks like he may be interested in becoming the hero of the piece and sensually picking up the news of the world and releasing it under a new name which media reports are saying that he might call it news instead of news of the world he would just tell you a little bit about leverage if he's estimated by forbes magazine to have a fortune of two point one billion dollars and of course he owns shares in era floats he also owns a newspaper in russia another i guess yet a. king and construction media assets all that kind of thing but he has been a controversial figure in the u.k. as you mentioned he's a former k.g.b. officer who worked at the london this embassy in london during the cold war so when he started to invest in london in the u.k. some newspaper markets impulse are the

chairman, for years the wall wall district corps of the -- the walla walla district corps of the corps of engineers has managed the district. five years ago, they sought to update their shoreline management plan which had last been revised in the 1980's. the existing management plan includes a permit program for private property owners that seek to build or use docks along the river shoreline. the 1906 -- the 2006 revision was so controversial that the corps was forced to back -- was forced back to the drawing board. it proposed a variety of restrictive measures, including a moratorium on the building of docks by private property owners along the shoreline and required existing dock owners to tear out their docks at great personal expense in order to keep their permits. the corps got an earful at a public hearing on the proposal and this year came back with a similarly controversial proposal which included new questionable mandates from the marine fishery service, including specific requirements for the length, width, and trands parentcy of the docks, all of which it claims would save

well it's official rupert murdoch's news corp abroad hits illegal how can operation cross the atlantic into the united states bloomberg news is reporting that back in two thousand and nine news corp admitted during the trial that it did indeed add into the secure web site of an american marketing rival eleven different occasions news corp subsidiary news america marketing broke into the website belonging to floor graphics incorporated and stole their client lists the case was later dismissed after news corp agreed to hand over twenty nine point five million as part of a subtle and so now that we know hacking was rampant at news corp in the u.k. and it also took place here in the united states is it really that far fetched believe fox news was the same ones. i think it's not and now some people are beginning to connect the dots between news corp news and another hack job the climate gate scandal of two thousand and nine if you remember just before the un's copenhagen climate summit in december of two thousand and nine the secured servers along the climate research unit at the university

it is a tiny piece of a tiny portion of news corp.'s media empire. estimates maybe that it's about a 3% overall piece of the profit. it really is not something that's going to hurt the company that much. i joke that if this company was in movies for american idol and american able business, not in the tabloids -- >> tom: but tour earlier point perhaps the end game is to get full control of b. sky b. in britain for the satellite broadcasting, a $19 billion deal, if it is able to get clarify for that deal, what does it mean for news corp. shareholders? >> that would potentially be a nice boost. i think that it is certainly something that any media investor knows right now is something that's very important from the vantage point of news corp.. news corp., like many other media companies, including the parent of time warner, is a challenging environment right now from an advertiser's standpoint, eve 2010 the economy slowly picking up. and the beauty of the satellite is that you get all of these fees that come in addition to ad revenue, that's why it's s

precious voting or probably cameron over his links to disclosed news corps executives to discuss this that we're joined from new york. reporter for politico dot com david very good evening thanks for being on the program so i promise to cameron tried hard to distance himself from the toys did me that he has with news corp is definitely what i look at are going to be the hardest time for him since he took office just how deep are its connections with the murdoch empire do you think. well certainly there are a lot of politicians whether it's in england whether it's in great britain or in the united states that have very very deep ties with news corp and that happens in a lot of forms and fashions its not only in terms of the staff members and the relationships that have been built with news corp executives but also the money issues that have been coming into play here both in terms of campaign finance and direct the lobbying efforts that have been waged by news corp and its various subsidiaries who would have thought would end up like this almost a fight isn't it between heavyweights me

that would have been useful to the news corp. corp.t a time that they have been struggling to maintain their revenues at the newspapers. they have also paid a price from the failure of the takeover. b sky b's share prices have fallen 20% in the past nine days, white mean almost 3 billion pounds -- losing almost 3 billion pounds from the value of the company. >> this is an opportunity to acquire 100% of a business that has extraordinarily good prospects for my has a gross trajectory that is well understood. it will have to substantially increase the kind -- the company by 20% to 25%. >> we think mr. murdoch's bid in the u.k., but he is much bigger in the u.s. there are now allegations that 9/11 victims and their families phones were tapped. >> if that is true, and if there were any access -- was any access to the victims records, it would be in my mind probably the most invasive and perverse use of the victims information in the final moments of their lives, and a tremendous invasion of the families as well. >> the dawn of the televisio

news corps owns the fox news channel and many other media properties.oday's hearing was all about the phone hacking scandal at great britain's news of the world tabloid. a controversy that's getting attention around the world but newspaper staffers first planted the seeds of this scandal nearly six years ago our senior correspondent eric shawn takes us back to that eric. >> shep he said this is the most humble day of my life. truth, apologetic. direct. answered questions about the scandal that has now spanned several years. >> it started with prince william's knee injury in november of 2005. the palace claimed voice mail messages were intercepted by news corps' the news of the world. the papers royal reporter and private investigator were arrested. but the practice may have extended beyond that story. in 2002, 13-year-old british school girl millie dower disappeared and was murdered. on july 4th, 2011, allegations emerged that her voice mail may have been hacked and messages deleted to free space in her mailbox. leading her family to falsely believe she

that there might be a new ceo put in charge of news corp. one of the biggest and most powerful media companies many the world and rupert murdoch showed his steel there and made it clear he's not going anywhere. >> michael isikoff thank you so much for keeping tabs on the hearing todd and for your insight. now let's bring in richard wolf who's been following this as well. before we get to the testimony can we talk about that pie in the face so to speak, the plate full of shaving cream that got flung. apparently it did spatter rupert murdoch a little bit which is why we're told he took off his jacket for the end of the hearing and wrap up of questioning. tell me about the tradition here and what we've learned about who this protesters was and what happened in this session? >> again, this started off on british tv many the '70s and has become a way of protest, it is what the mp called it, it was an assault on this person on rupert murdoch. thank goodness his wife stepped in the way she did. at least there was some satisfaction there. the gentle

on monday news corp formally withdrew pledges to sell off sky news. the company has given the government little choice but to refer the proposed takeover to competition authorities. >> it will mean that the competition commission will be able to give further full and exhaustive consideration of this merger taking into account all relevant recent developments. >> this takes the decision whether news corp can take over bskyb away from politicians and slows the whole process down. >> it's obviously politically unexpedient to allow the takeover to go through and the government have got to find a way of delaying it. this is their way of delaying it, the fig leaf for delay before bsky jb is giving to mr. murdoch. >> reporter: murdoch ignored calls from politicians earlier on monday to rethink the whole plan. >> i would say look how people feel about this, look how the country has reacted with revulsion to the revelations so do the decent and sensible thing and reconsider. think again about your bid for bskyb. >> reporter: taking full control of bskyb is a t

news corp. is headquartered in new york. the fbi seems to be bowing to pressure from politicians. >> that is right. what happened last night, a republican congressman from long island called on the fbi to open an investigation and two reports there was an attempt to obtain the phone records and numbers of the 9/11 victims, especially british victims and this attempt was made by "news of the world" reporters. this is the allegation. made in a rival newspaper. this is what it politicians want to have investigated. 9/11 is a totemic issue as we approach the 10th anniversary. people cannot believe this could be -- possibly have happened. i understand the investigation is in its preliminary stages. it does not mean a thing has done wrong but murdoch was a company is facing investigations on both sides of the atlantic. >> we heard a little bit about his interview. he came out fighting in "the wall street journal". "the wall street journal" is owned by news corp. and he said his company has handled the crisis extremely well in ever

murdoch's news corp could face a one hundred million dollar bill from the u.s. department of justice may soon be launching an investigation into news corp for violating the foreign corrupt practices act after it was learned that news of the world teenie paid off corrupted police officers so could this be the beginning of the end for murdoch's reign as the world's richest media mogul and should american regulators be taking a closer look at news corp operations here in the united states joining us now to offer his take is stephen webster senior editor at ross story stephen welcome thanks for having me tom this is no small issue i mean there's evidence that the sunday times on by murdoch hacked bank brown's bank records is in france son's medical records and published a story on the child serious illness where do you think this is going to end up in the u.k. . in the you hearing i believe this will likely there are attempts to start broadcasting a member of our program distance or not running up against it and it's going to refer me to a search you know so you can

news corp. said it would be absolutely appalled and horrified if the allegations prove true. its owner, rupert murdoch, has ordered full cooperation with the police investigation. >> yes, there was even worse to come. the relatives of soldiers killed in iraq and afghanistan have been warned their funds may have been hacked. they joined the families of those whose loved ones were blown apart on 7/7. >> my mind went back to 2005 and the emotional turmoil that we were in. and that somebody was listening to that, it is a violation. >> also on the list of possible targets, the parents of wholey and jessica. and of course, the parents of those who were given false hope that she was still alive when her voice messages were deleted after her phone was allegedly attacked. last night, the prime minister returned from afghanistan to learn of the brewing storm. >> yes, we it -- we do need to have an inquiry into what happened. we're no longer talking about politicians and celebrities. we're talking about mu

rupert murdoch's news corp. has dropped their bid for bskyb. >> they clearly need to do with the problems that news international. >> 21 people were killed in a financial capital. the fighting continues to rage in libya. colonel gaddafi's forces and the rebels are still in a tug of war. the last few days have brought an incredible reversal of fortune for rupert murdoch's media empire and today can get another blow. bowling to public and political pressure, news corp. withdrew their bid for bskyb. this is in the wake of the hacking scandal. for more on how the deal went, here is the bbc's business editor. >> rupert murdoch, the great news mobile is in the news for what he would see as the wrong reasons. the great humiliations' of his career, the abandonment of his desire to get all of british news broadcasting. "we believe that the acquisition would benefit both companies it has become clear that it is too difficult to progress in this climate." this was the appalling climate for mr. murdoch. >> when such a serio