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News Corp shares up after Murdoch hearing

Share prices closed up more than 5 per cent after media moguls face British MPs.

Shares in News Corporation have recovered some of their losses following Rupert and James Murdoch's appearance in front of a committee of MPs yesterday.

On Monday, it was reported that News Corp's share price had fallen up to 7.6 per cent to a two-year low in Australia. Following the Murdochs' hearing yesterday, however, share prices recovered, with the company's shares closing up 5.5 per cent in New York and 5.1 per cent in Sydney.

However, News Corp is not out of the woods yet. Shareholders continue to express concern over the management and voting structure of the company. A request have gone out that News Corp separates out the roles of chief executive and chairman, both of which are titles Rupert Murdoch currently holds. Investors are keen to see improvements in transparency from a company mired in scandal.

Tess Riley is a freelance journalist and social justice campaigner. She also works, part time, for Streetbank, and can be found on Twitter at @tess_riley