Murdoch, the media magnet, has been questioned on his dual role in the News Corporation. After ‘Rupertgate’, investment firms LAPFF and Christian Brothers Investment Services require an independent chairman for the media conglomerate (The Independent). The worn out media mogul has been under pressure many times because of the much controversy his statements and actions tend to have.
The investment firms gained more support to eliminate Murdoch as chairman after the hacking scandal, as they believe he still has too much power. And yet that amount of power is holding the firms back to make a change, as the Murdoch family owns 40 per cent of the shares in News Corporation (The Independent).
The trend in ownership where large conglomerates get the hold of multiple media outlets is one I’m fearing. I agree with the claim of Murdoch needing to resign as chairman, especially after the phone hacking scandal he was in. His power is tremendous, and reaches out internationally. A man not too trust, in my opinion. A man with too much power, controlling the voice of the media. It’s getting harder and harder to keep one’s faith in the media, especially in the US and UK, when there is one man ruling.