News Corp. chief ignores demands for retirement after hacking scandal
Rupert Murdoch dismissed Wall Street’s concerns he’s too old and too out of touch to carry on as chairman and chief executive of News Corporation on a conference call with shareholders Wednesday night. Despite demands to retire, he said he won’t quit, and maintained that the News of the World hacking scandal isn’t hurting the rest of the company financially. Murdoch’s empire includes U.S. television networks, publisher Harper Collins, Twentieth Century Fox and satellite broadcasting in Asia and Europe. Despite the closure of the News of the World, Murdoch says the company expects more than 13 percent profit growth over the next year.