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News Corp's share prices significantly down

The reputational damage in the wake of the phone-hacking scandal prompts serious economic instabilit

News Corporation's shares have fallen to a two-year low in Australia following another tumultuous weekend in the phone-hacking scandal.

Shares fell up to 7.6% during Monday before recovering to finish the day's trading down 4.1%. This comes at a time when News Corp's value has dropped almost 20% since the start of this month.

After Rebekah Brooks' resignation last week, matters escalated further over the weekend with her arrest and the resignations of Les Hinton, Dow Jones chief executive, and Sir Paul Stephenson, Metropolitan Police Commissioner. Such events are having a significantly damaging economic effect on the Murdoch empire.

The fall in share prices are prompting further questions about the need for a senior management restructure at News Corp. Likewise, with News Corp's BSkyB takeover bid withdrawn, analysts are now discussing the company's current 39% stake in the broadcaster.

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