Phone Hacking: Rupert Murdoch Thinking Of Selling News International

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Phone Hacking: Rupert Murdoch Thinking Of Selling News International

Rupert Murdoch is considering selling off his British newspaper division as a way to extract himself from the hacking scandal and save his company. Meanwhile, the British government fully turned against him and announced an inquiry into the crisis.

A Wednesday report in Murdoch’s own Wall Street Journal said that the option of selling News International is one of several that parent company News Corporation is exploring. The Financial Times also reported Tuesday night that the idea is being “discussed.” (The idea has been floated in the press for some time.)

According to the Journal, News Corp has discreetly tested the corporate waters to see if any buyers are interested. So far, nobody has seemed willing to buy the Sun, the Times and the Sunday Times. This is not hugely surprising; the newspaper market is on a long-term downslide, and two of the three papers are themselves mired in the hacking scandal…