The business pages have more electricity to them than usual today, and all because of
their overlap with the phone hacking scandal. In many ways, yesterday marked a turning point in the whole affair, in that it is now hitting Rupert Murdoch in the pocketbook. News Corporation shares
— which had held up for a day or two — finally fell by 3.6 per cent, leaving its chairman and CEO some £120 million worse off. And, as we reported on the new Spectator Business Blog, shares in BSkyB took a similar course; due, no doubt, to
prevailing concerns that Murdoch’s takeover might be posponed indefinitely. Ofcom are just one of the many interested parties sniffing around the deal with renewed vigour and suspicion.
Naturally, the polticians are sniffing around too. Today’s Independent carries an intriguing account of the convulsions on Downing Street at News Corp’s BSkyB bid.
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