Murdoch claims that his UK arm will bounce back

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Rupert Murdoch
London, Jul 20: Emerging from a stumbling testimony before British House of Commons, embattled media mogul Rupert Mudroch today (Jul 20) sought to allay his workforce telling them that News Corp would bounce back from the phone hacking scandal.

After telling the UK lawmakers that he was not to blame for the crisis, 80-year-old Murdoch in a message to his staff claimed, "I have the utmost confidence that we will emerge a stronger company."

With his USD 800 million company faced by threats of a meltdown over the mushrooming scandal, Murdoch admitted that "It would take time to rebuild trust and confidence, but we are determined to live up to the expectations of our stockholders and customers."

News Corp, which have been plugging the entire week, gained more than 5 per cent in the Australian trade and showed a similar bounce in New York, where they jump over 5.51 per cent.

Facing a severe grilling from the lawmakers, the media baron while apologising to the victims of the phone hacking insisted that he was not personally responsible for the crisis, which has engulfed British media politicians and police.

The scandal has already forced Britain's two top cops to resign and brought Prime Minister David Cameron under sever political pressure.

The media mogul's comments came ahead of the address by Cameron to the lawmakers where he will come under scrutiny over his links to Murdoch's media empire.

PTI

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