News Corp is seeking IR support as it scrambles to control the damage being caused in the US by phone hacking at one of its British tabloid newspapers.
The media giant ‘is looking for outside reinforcements in investor relations, policy relations and public relations to help handle the impact of the scandal domestically,’ according to an article in the Wall Street Journal, citing people familiar with the matter.
Chase Carey, News Corp’s chief operating officer and deputy chairman, is expected back in New York today ‘to help manage the fallout in the financial community,’ the article adds.
In addition, the FBI is reported to be looking into whether victims of the 9/11 terrorist attacks had their phones hacked by British tabloid journalists.
Institutional investors have also amended an existing complaint against News Corp – which accuses the Murdoch family of enriching themselves at the expense of shareholders – to include the phone hacking issue.
‘These revelations show a culture run amok within News Corp and a board that provides no effective review or oversight,’ says the amended suit.
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