By Michael Collins

"Cameron continues to insist that the inquiry is the best forum to evaluate Hunt’s actions. This signals the beginning of the end for Cameron. He’s proposing a solution for the Hunt investigation that is outside the rules of Parliament, in a forum that has rejected him. Upon closer examination, existing evidence will lead to even stronger condemnation of Hunt’s behaviour. Any new materials produced by the inquiry will bury him.

"Where will that leave Cameron? Finished!" Michael Collins, Independentaustralia.net May 10, 2012

Queens Counsel Robert Jay unearthed a devastating piece of evidence that will surely create calls for the resignation of both culture secretary Jeremy Hunt and Prime Minister David Cameron.

In afternoon testimony at the Leveson Inquiry today (5/24), Jay confronted News Corp lobbyist Frederic Michel with an email rendition of a Hunt to Cameron memo of November 19, 2010 (see testimony/full memo at end of article). Hunt is clearly cheerleading for the News Corp acquisition of immensely profitable pay TV network BSkyB. News Corp owned 39% of the network and wanted to purchase the remaining 61%. This acquisition was absolutely critical to News Corp profitability and as a sign that Rupert and James Murdoch actually knew what they were doing.

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By Michael Collins

May Day! How remarkable (even though Rupert Murdoch was denounced by a committee of the House of Commons, not the entire body). Murdoch is "not a fit person" to run "a major international company," we were told in a report released by the Commons' committee investigating phone hacking on May 1). He may not be unbalanced, as Murdoch recently characterized former Prime Minister Gordon Brown, but he's certainly not fit. (Image)

Here's some of what this means:

1) There's no way Murdoch will survive the regulatory investigation on his ownership of media in Great Britain.. One of Ofcom's charters (the regulatory body) is to determine if Murdoch is a "fit and proper" person to own BSkyB and other British media properties.
2) When it looks like Murdoch has to divest the 39% News Corp interest in the highly profitable BSkyB pay TV network, institutional shareholders will Kirk out! The Sky enterprise amounted to 20% plus of News Corp's 2011 profits. Oops!
3) Murdoch won't go gentle into the dark night. He will become increasingly irrational as seen in his sting operation against his once loyal servant David Cameron. It is fair to assume that he's got more dirt on public officials than J. Edgar ever had … and he'll start using it.
4) Murdoch will retain the continued loyalty of the News Corp board (see members listed below). After the release of the condemnation by the Commons committee, Murdoch's board released a statement expressing "full confidence in Rupert Murdoch's fitness and support for his continuing to lead News Corporation into the future as its Chairman and CEO."
5) Murdoch may get the bums rush out of News Corp as a result of an institutional investor like the Christian Brothers Investment Services which has said it would ask the SEC to change the voting rights of shareholders (Murdoch has outsized representation in voting shares).

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by Michael Collins

Transitory omnipotence mistaken for eternal dominance.

The House of Commons committee investigating Rupert Murdoch’s United Kingdom media properties released new evidence this week. The evidence elaborates on themes generated at the committee hearing of July 19 and adds new information to the toxic brew that threatens to drown the largest media company in the world. (Images: Hubert Burda Media, L, World Economic Forum)

At the July 19 hearing of the House of Commons Media, Sport and Culture Committee (Commons committee), Member of Parliament (MP) Tom Watson asked both Rupert and his son James Murdoch if either was aware of the “for Neville” memo concerning the 2008 phone hacking settlement by the News of the World (NoW). The Murdoch paper’s on-staff private detective, Glenn Mulcaire, was caught tapping the voicemail of Gordon Taylor, chief executive of the Professional Footballers Association.

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