Rupert Murdoch apologized to victims of criminal phone hacking by one of his tabloids and accepted the resignations of News Corp's (NWSA.O) top two newspaper executives, Rebekah Brooks and Les Hinton. Moving to gain control of a scandal washing over his global business, the U.S.-based magnate made a personal apology to the parents of a murdered schoolgirl in what appeared to be an admission that the News of the World, then edited by Brooks and overseen by Hinton, had in 2002 hacked into the voicemails of their missing daughter. It was that damning allegation, in a rival newspaper 10 days ago, which reignited a 5-year-old scandal that has forced Murdoch to close the News of the World, Britain's best-selling Sunday paper, and drop a $12 billion plan to purchase full control of highly profitable pay-TV operator BSkyB (BSY.L). The crisis has broken the grip that Murdoch, 80, had over British politics for three decades as leaders from Margaret Thatcher, through Labour's Tony Blair to current Conservative Prime Minister David Cameron sought his support.
News Corporation is a diversified global media company. Shares of NWSA traded higher by 1.33% or $0.205/share to $15.64. In the past year, the shares have traded as low as $11.91 and as high as $18.35. On average, 22250600 shares of NWSA exchange hands on a given day and today's volume is recorded at 76299824.
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