New Zealand Celsias

What a fast moving thriller this is, as a massive media organisation seems to almost implode before our startled gaze. Dan Brown novels don't move this fast and across so many continents.
A week ago Murdoch was winging his way to the UK, assuring us of his faith in Rebecca Brooks, allowing only that the News of the World had made some “minor mistakes “. Within a few days we have the  demise of Rebekah Brooks -his chief in the UK and Les Hinton of the Wall Street Journal . Gone ! And full page apologies all through the British Press as News Corp seem to come under the advice of a PR company."We are sorry. For a business that prides itself on holding the powerful to account, we failed when it came to one of our own papers.Apologising for our mistakes and fixing them are only the first steps" said the advert."  

Too little, too late ? 

More reputations and more jobs and careers hang in the balance . As well as public faith in whether there really are checks and balances.

Scotland Yard’s reputation is already in tatters after the collusion between police and newspapers has become public. David Cameron, who employed former News of the World editor Andy Coulson after the first round of phone hacking claims is fighting the political battle of his life. Ed Miliband,leader of the British Labour Party has today called for a break up of the Murdoch media interests in the UK,saying he has too much power over public life and the concentration of media ownership in one persons hands is too high.

And in the US Murdoch and News Corp will face intense scrutiny .This is a US registered news organisation . If there was hacking , breach of privacy, and bribing there we can now rest assured that it will be uncovered.US Senators are already calling for a full enquiry.

We await expectantly the huge public apology for subjecting the American public for all those years to Fox News. We are looking forward to the full page ads that apologise for lying to the public about so many aspects of public life in the US and for deliberately and systematically  misleading the entire population on climate change. But that may be just wishful thinking.

Closer to home in Australia , where Murdoch owns 11 of the 12 major newspapers including the respected Australian( which he has kept alive for 47 years despite it not being profitable) there will also be intense scrutiny.Politicians there are already lining up for action.

Our pick for the week ahead .Watch what happens in the House of Commons , and for what happens from institutional shareholders. Murdoch owns 11% of News Corp, so while its important the power will likely shift to institutional shareholders who have seen a spectacular decline in value of their shares. Our bet? That they will be prepared to ditch the noticeably much older 80 year old Rupert Murdoch. And expect that any dreams James Murdoch had of taking over the empire to go out the window.We think that institutions will push them aside in a bid to cleanse the product. How long before Murdoch is not the face of News Corp?