Why News Corp is like Russia

Murdoch can take the losses.

Russia ultimately won the Second World War thanks to its unique ability to sustain massive losses – and the same could be true for Rupert Murdoch and News Corp.

A huge legal settlement with rebel US shareholders yesterday added yet further to  News Corp’s massive  phone-hacking bill .

They accused the News Corp board of allowing Rupert to “siphon value away from News Corp and its shareholders for the benefit of Murdoch, his family and his friends”.

They also claimed the board had been negligent in the way it dealt with the hacking scandal.

The $139m settlement of that suit adds to the claimed $340m of costs incurred as a result of the hacking scandal to February this year.

Murdoch’s scorched earth policy since the hacking scandal has been as ruthless as it has been effective and something that few other media companies in the world could have afforded to engage in.

Since the July 2011 revelation that the News of the World had hacked the voicemail messages of Milly Dowler Murdoch has closed the biggest selling Sunday newspaper in Britain, the News of the World (sacking more than 200 staff) and has engaged in a forensic audit of his surviving redtop title – The Sun – which is unprecedented in UK corporate history.

The News Corp Management and Standards Committee’s internal purge has seen at least 23 Sun journalists arrested.

Whatever it costs, Murdoch is determined to win out in the long run by retreating as far as he has to and dynamiting his own assets along the way.

Back in July 2011, there was giddy moment for the Murdoch-haters when it looked like The Guardian’s revelations around phone-hacking had dealt him a fatal blow.

His willingness and capacity to absorb financial losses since then in order to salvage his newspaper empire shows that he is determined to win the long war.

Photograph: Getty Images

Dominic Ponsford is editor of Press Gazette

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“Trembling, shaking / Oh, my heart is aching”: the EU out campaign song will give you chills

But not in a good way.

You know the story. Some old guys with vague dreams of empire want Britain to leave the European Union. They’ve been kicking up such a big fuss over the past few years that the government is letting the public decide.

And what is it that sways a largely politically indifferent electorate? Strikes hope in their hearts for a mildly less bureaucratic yet dangerously human rights-free future? An anthem, of course!

Originally by Carly You’re so Vain Simon, this is the song the Leave.EU campaign (Nigel Farage’s chosen group) has chosen. It is performed by the singer Antonia Suñer, for whom freedom from the technofederalists couldn’t come any suñer.

Here are the lyrics, of which your mole has done a close reading. But essentially it’s just nature imagery with fascist undertones and some heartburn.

"Let the river run

"Let all the dreamers

"Wake the nation.

"Come, the new Jerusalem."

Don’t use a river metaphor in anything political, unless you actively want to evoke Enoch Powell. Also, Jerusalem? That’s a bit... strong, isn’t it? Heavy connotations of being a little bit too Englandy.

"Silver cities rise,

"The morning lights,

"The streets that meet them,

"And sirens call them on

"With a song."

Sirens and streets. Doesn’t sound like a wholly un-authoritarian view of the UK’s EU-free future to me.

"It’s asking for the taking,

"Trembling, shaking,

"Oh, my heart is aching."

A reference to the elderly nature of many of the UK’s eurosceptics, perhaps?

"We’re coming to the edge,

"Running on the water,

"Coming through the fog,

"Your sons and daughters."

I feel like this is something to do with the hosepipe ban.

"We the great and small,

"Stand on a star,

"And blaze a trail of desire,

"Through the dark’ning dawn."

Everyone will have to speak this kind of English in the new Jerusalem, m'lady, oft with shorten’d words which will leave you feeling cringéd.

"It’s asking for the taking.

"Come run with me now,

"The sky is the colour of blue,

"You’ve never even seen,

"In the eyes of your lover."

I think this means: no one has ever loved anyone with the same colour eyes as the EU flag.

I'm a mole, innit.