Murdoch scandal follows classic media baron scriptReported by SeattlePI.com on Saturday, 5 May 2012 (on May 5, 2012)
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Murdoch scandal follows classic media baron script
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 06:10 a.m., Saturday, May 5, 2012
LONDON (AP) — If the phone hacking scandal gripping Rupert Murdoch's News Corp. empire has a familiar ring, it might be because you've heard the story before. Beaverbrook's attempt to create his own political party was knocked back in the 1930s, and he found himself cast adrift following the defeat of close ally Winston Churchill in 1945. Maxwell, having raided his newspaper's pension fund, drowned under murky circumstances in 1991; Black was only released Friday from a U.S. prison following a 2007 conviction for cheating his shareholders. Once one of the most powerful forces in British politics, courted by Labour and Conservative leaders alike, Murdoch also has seen his clout wither amid the scandal over illegal eavesdropping at his News of the World tabloid. Revelations of widespread illegality there have led to the arrests of dozens of journalists and media executives, the resignations of high-flying political operatives and police leaders, and hundreds of millions of dollars in legal costs. Born William Aitken in the small maritime province of New Brunswick, Beaverbrook had a modest start selling insurance and magazines door to door before moving on to bond promotion and striking it rich. Black, a member of the Canadian elite, eventually came to own The Daily Telegraph, the Jerusalem Post, and a string of U.S. and Canadian newspapers before his embezzlement plunged his empire into crisis. Britain's trade department investigated Maxwell in the wake of a botched takeover deal, branding him unfit "to exercise proper stewardship of a publicly quoted company" — nearly the same language used by Labour lawmakers to condemn Murdoch in a critical report on phone hacking published last week.
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