Murdoch Spars With Investors at Annual Meeting

International Herald Tribune Friday 21st October, 2011

In his first public address to shareholders since a phone-hacking scandal in Britain, News Corporation's chairman and chief executive, Rupert Murdoch, apologized Friday for the unethical practices at the company's British newspaper unit, defended the company's financial performance and sparred with opponents of the company's leadership.

 "We cannot just be a profitable company. We must be a principled company," said Mr Murdoch, looking both rested and combative in a black suit and blue necktie. "We must admit to and confront our mistakes and establish rigorous and vigorous procedures to put things right.

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