1. Fallout

    Elisabeth Murdoch Won't Join Board

    CHELTENHAM, UNITED KINGDOM - MARCH 18: (EMBARGOED FOR PUBLICATION IN UK NEWSPAPERS UNTIL 48 HOURS AFTER CREATE DATE AND TIME) Elizabeth Murdoch hugs her father Rupert Murdoch as they watch the racing on day 3 of the Cheltenham Horse Racing Festival on March 18, 2010 in Cheltenham, England. (Photo by Indigo/Getty Images) *** Local Caption *** Elizabeth Murdoch;Rupert Murdoch

    Indigo / Getty Images

    It looks like Elisabeth Murdoch's plans to join News Corp.'s board will have to be put on hold. The daughter of News Corp. founder Rupert Murdoch was expected to join the board when her father's company acquired Shine Group, the television-production company she runs. But according to a News Corp. statement, she now feels “it would be inappropriate” to join the board at this time. The phone-hacking scandal at The News of the World has brought renewed charges that the News Corp. board is too beholden to Rupert. Three Murdochs—Rupert and his sons James and Lachlan—are already on the company board and together hold 40 percent of the voting stake in the company, giving them effective control.

    Read it at The Wall Street Journal