11 big business fails of 2011
Rupert Murdoch and the Hacking Scandal
The man whose worldwide media empire thrives on covering scandal became the center of a dramatic one.
A British tabloid newspaper owned by Murdoch's News Corp., which also owns Fox News and The Wall Street Journal, hacked the phone of a murdered schoolgirl. Murdoch was not charged with a crime, but an investigation by British authorities raised questions about Murdoch's ability to run his worldwide media empire. News Corp. fired several executives and closed the newspaper at the center of the scandal, the News of the World.