Over the weekend, the WSJ reported that News Corp was searching for IR support as it scrambled to contain the damage from phone-hacking allegations in the UK.
The firm it has settled on was revealed yesterday as Sard Verbinnen & Co, the financial PR adviser that specialises in IR and crisis communications. The news was confirmed by a News Corp spokesperson in an interview with Bloomberg.
Sard’s job will be to help rebuild News Corp’s battered relationship with investors, which has seen the company’s stock fall by 17 per cent since the start of July, although it picked up a little yesterday after the Murdochs’ apologetic appearance in front of a committee of UK MPs.
[Article by Tim Human, Inside Investor Relations]
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