BSkyB faces fall out from hacking, claims Telegraph
The reputational damage done to Rupert Murdoch's News Corporation may be spreading to its cash cow, British Sky Broadcasting, if the Telegraph is to be believed.
The reputational damage done to Rupert Murdoch's News Corporation may be spreading to its cash cow, British Sky Broadcasting, if the Telegraph is to be believed.
The paper says the UK's broadcasting regulator, Ofcom, is considering whether information coming out of the Leveson inquiry, set up in response to the scandal over phone hacking, undermines the "fit and proper person" test applied to the granting of broadcasting licences.
Rupert Murdoch's son, James Murdoch, has already resigned as Executive Chairman of News International, the UK newspaper business that has caused so much grief for its US parent.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
He remains, however, Chairman of British Sky Broadcasting because of News Corporation's 39% stake in the satellite broadcaster.
The Telegraph says Ofcom has begun an operation to monitor what emerges from Leveson. There is also a suggestion that if MP's challenge James Murdoch's testimony to the Culture Media and Sport Parliamentary select committee he may come under pressure to resign from BSkyB, or News Corp. may have to sell part of its stake in the company.
This news doesn't appear to have dented BSkyB's share price, the stock was up 0.86% by 09:14.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Inheritance tax scam warning – how to protect your pension pots ahead of 2027 rule change
Pensions are expected to be included in estates for inheritance tax purposes from 2027 - but experts warn that savers should be wary of too-good-to-be-true avoidance schemes
-
Will the National Housing Bank help the housing market?
The government claims its ‘housing bank’ will fund the building of 500,000 homes. Here is what you need to know