Tuesday, July 12, 2011

News Corp.’s Lost $7 Billion Shows Investor Concern Over Hacking Fallout

Rupert Murdoch's News Corp continues to slip as the phone hacking probe widens. With billions on the line - will Murdoch press forward with the BSkyB deal or will he retreat in the face of mounting losses.

Amplify’d from www.bloomberg.com
News Corp. (NWS)’s loss of $7 billion in
market value over four trading days shows investor concerns that
a probe into alleged phone hacking by journalists at one London
newspaper could have a broader impact on the company.
Murdoch’s New York-based media company tumbled 4.6
percent to A$15.19 in Sydney today. The stock lost $1.27, or 7.6
percent, to $15.48 in Nasdaq Stock Market trading yesterday, the
biggest drop since April 2009
Read more at www.bloomberg.com
 

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