Despite his scandal, Rupert Murdoch’s youngest son, James Murdoch was re-elected as Sky chairman, the biggest pay per view television network in England. Sky TV is working under British Sky Broadcasting (BSkyB) and one of media company who has the widest network. The triumphant winner left so many controversies. He was involved in hacking phone scandal along with his journalist and editors.
The scandal was happened from 2003 to 2012 where James was a executive director of Sky. At that time, several Sky’s journalists were tapping private phone which tainted the code of journalism. They did a phone hacking on many members of Royal Family and even published private conversation between Prince William and Prince Harry in last 2005. The British people sued Sky because thay acted just like a mob.
James now replaces Nicholas Ferguson’s position and he was a person who replaced him when James stepped down in 2012. James was forced to retire because Ofcomm as a broadcasting regulator pushed him and British people demanded his resignation. The scandal was hillarious and some investors were mad. In the end, Sky’s stock price crushed down for a sometime.
CEO of Sky Jeremy Darroch made a statement that the re-election of James Murdoch was a right way. He said, “James is the right person to bear that heavy task.” He also denied all the statement that the re-election was influenced by Rupert Murdoch who still holds 39 percent of Sky’s stock market.
A Citi analyst named Thomas Singlehurst had another opinion about James Murdoch. Thomas said that the company independent was at stake because of it. “There will be a huge question about the balance in board between independent and non-independent,” Thomas said.
In another side, Jeremy is very optimist with Sky’s decision to choose James as a chairman. “The decision was made through shareholders meeting. We are very sure with the outcome and James is the right person to be a chairman,” he stated. He added that James’s business skills and good knowledge in media industry was the reason why he was re-elected.