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Posts Tagged ‘Jay Rockefeller’

News Corp. Has Spent $382 Million on Phone Hacking Scandal Legal Fees

News Corporation has been dealing with the ramifications of its phone hacking scandal for over two years now. During that time, it has shelled out $382 million in legal fees. That’s quite a number. We hear not being shady is less expensive, but don’t quote us on that.

The bleeding won’t likely stop there, either. In its first financial statement since News Corp. split into News Corp. and 21st Century Fox, the Press Gazette reports that the company expects to pay out at least $66 million more in legal fees. With news that Senator Jay Rockefeller might launch an investigation into News Corp., $66 million might even end up being a low estimate.

We know you’re probably feeling bad for News Corp., but save your tears. Despite paying out millions in legal fees,  News Corp. still reported $506 million profit, and total revenue was $8.9 billion. So we think it’ll be okay.

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Senator Seeks Evidence in News Corp. Phone Hacking

Jay Rockefeller, chairman of the Senate’s Commerce Committee, is putting the squeeze on News Corporation. The Telegraph reports that Rockefeller flew to News Corp.’s London headquarters to gather evidence of phone hacking. Any information obtained could then be used for a potential Senate investigation into the Rupert Murdoch media empire.

When news of the scandal broke in 2011, Rockefeller was a vocal critic of News Corp. He urged the FBI and DOJ to open investigations into the company, and they both have. Their cases — which are still underway — involve the Foreign Corrupt Practices Act, which concerns American companies bribing foreign officials.

Last year, during the Leveson Inquiry, Rockefeller wrote Judge Leveson, claiming that he was “interested in learning whether any of the conduct you are investigating falls within the jurisdiction of US laws.” It appears that his curiosity has only grown since then.