These are tough times for News Corp and it's not going to get better any time soon. Some are suggesting that Rupert Murdoch's son James may be in serious legal trouble in the UK. In addition to that problem, his sister Elisabeth is said to be upset with James.
...But Elisabeth is known to have been dismayed by what is happening to her father's empire and it is understood there are tensions within the family.On top of that, the leader of the British Labour Party Ed Miliband is now pushing for the company to be dismantled. Ouch.
Wolff, who stood by his claims on Saturday, said: "What we are seeing is an enormous amount of frustration. James absolutely cannot survive. Whether or not he is legally culpable, he certainly mishandled this entire situation and has done for a long period of time."
Wolff suggested the world was witnessing the end of the Murdochs' dynastic ambitions. "The Murdochs will be moved out of this company. James will go into some form of exile and Rupert will be put out to pasture and an outsider not named Murdoch will be put in charge."
Miliband says that the abandonment by News International of its bid for BSkyB, the resignation of its chief executive, Rebekah Brooks, and the closure of the News of the World are insufficient to restore trust and reassure the public.
The Labour leader argues that current media ownership rules are outdated, describing them as "analogue rules for a digital age" that do not take into account the advent of mass digital and satellite broadcasting.
"I think that we've got to look at the situation whereby one person can own more than 20% of the newspaper market, the Sky platform and Sky News," Miliband said. "I think it's unhealthy because that amount of power in one person's hands has clearly led to abuses of power within his organisation. If you want to minimise the abuses of power then that kind of concentration of power is frankly quite dangerous."
