Caryn Freeman 12:21PM EST
Murdoch claimed that it was only eight days ago that he heard of the pandemic corruption at News of the World. When questioned specifically on conversations that may have taken place as early as January of this year in relation to hacking Murdoch Sr. said he didn’t remember exact dates.
The committee asked Murdoch if he was ultimately responsible for what took place at News of the World as CEO of News Corp. “No,” Murdoch Sr. answered.
"Who is responsible?" “People that I trusted. I worked with them for 25 years I trusted them with my life,” he replied.
The decision to shut down News of the World came from the Board of Directors, Rupert Murdoch himself and Rebecca Brooks. According to News International lawyers if the case were litigated it would be lost and the financial cost including legal expenses and compensation would be too great to keep the paper open.
“The closing of 160 year old paper is a grave thing. But it was a paper and a title that had violated the public trust. It was really the right choice for the paper to cease publication. It is a very regrettable situation,” James Murdoch told the committee.
Therese Coffey pressed the Murdoch’s on how payments were made to those who actually executed the hacking. “How is it possible to make payments to people who don’t invoice you or who are not employees of News Corp?” Murdoch Sr. explained that, “each newspaper has a managing editor, they manage the budgets and the Board has no authority to make payments.”
Rupert Murdoch, CEO of News Corp. has the difficult task of protecting News Corp. stock. News Corp. stock has sufferd two day losses since the scandal broke.