Asia-Pacific News

Should Rupert Murdoch Resign?

Rupert Murdoch and News Corp seemed to have turned a corner in the hacking crisis after last week's UK parliamentary committee hearing. But new accusations have once again surfaced in the fast moving crisis.

According to two former News International executives James Murdoch's testimony was "mistaken". Colin Myler, a former editor of the News of the World and Tom Crone, News International's former chief legal advisor have cast doubt on James Murdoch's account that he only became aware of "key facts and evidence" in late 2010.

Meanwhile, the U.S. Justice Department is looking into allegations that News Corp's American advertising unit hacked into computers of a competitor and it's carrying out a separate investigationinto allegations of hacking into voicemails of September 11 victims.

Given the breadth of the wrong-doing, British MPs have raised questions about corporate governance at the company. In his testimony Murdoch said he delegated the running of News of International to people he trusted. He also said he had "clearly" been misled over the extent of the hacking but didn't know who had lied to him.

About $6 billion was wiped off News Corp's $47 billion market cap after the crisis broke but that loss has been cut in half as the shares have since rebounded. According to Barclays and Gabelli & Co. analysis, News Corp should be worth $62 billion to $79 billion based on the value of all the underlying businesses, including 20th Century Fox, the Wall Street Journal and Fox television, which runs Fox Business Network (FBN), a competitor to CNBC.

Some analysts have questioned whether News Corp may be worth much more without Rupert Murdoch at the helm. News Corp's largest single foreign investor Saudi Prince Alwaleed bin Talal is standing by the Murdochs, expressing his confidence in their leadership.

We want to know if you think News Corp will be better off without Rupert Murdoch as chief executive.