Shareholder: News Corp. Reputation Hurt

The second-largest shareholder in Rupert Murdoch’s News Corp. admitted on Tuesday that the company’s reputation has been harmed by the hacking investigation and that he “really hopes” the scandal is “behind us.” Prince Alwaleed bin Talal said that although News Corp. has “very diversified” holdings, the hacking scandal has harmed not just the print division but the company as a whole. In one of his few previous public appearances, Alwaleed said “ethics is very important” and indicated he was disappointed in former News International chief Rebekah Brooks—and she resigned the next day. Meanwhile, a new report claimed that British Prime Minister David Cameron texted Brooks the day she resigned, saying to “keep your head up.”