Saturday, July 16, 2011

Dow Jones CEO Bails Thanks to Murdoch Hacking Scandal

Well, I wasn't expecting this. Sure, it seems like everybody in the UK is resigning in disgrace in light of the hacking scandal, but I'd expected that it would stay on that side of the Atlantic.

Apparently not.
Dow Jones & Co. Chief Executive Les Hinton resigned late Friday, as the top executive at News Corp.'s financial publishing unit sought to contain the damage from the company's British tabloid scandal, which began while he oversaw the company's U.K. newspaper operations.

Mr. Hinton said that he was "ignorant of what apparently happened" at the company's tabloid newspapers earlier in the decade. He characterized his lack of knowledge as "irrelevant" and said it was "proper" for him to step down.

Mr. Hinton's announcement came hours after Rebekah Brooks, the embattled chief executive of News International, News Corp.'s U.K. newspaper unit, resigned. She acknowledged the reputation of the company was "at risk."

The resignations were part of an aggressive new damage-control campaign by the media company, which also publishes The Wall Street Journal.
It's not enough. It's not remotely close to enough. Murdoch and his underlings knew damned well what was going on. They're under investigation for hacking 9-11 victims, for God's sake. This isn't the sort of thing that gets blown off with a full-page apology in a newspaper and a few strategic resignations. This is serious. The truth must out.

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