News Corp. Takes $56 Million Charge on Phone-Hacking Scandal - Corruption Currents - WSJ


News Corp. said Wednesday that it took a $56 million charge on its quarterly results related to an ongoing investigation into a series of scandals that it initiated when the company closed its weekly tabloid, News of the World.

The scandal, which smoldered for years before catching fire in July 2011, led to the closure of the tabloid  and several concurrent investigations into phone-hacking, computer hacking, bribery of officials by journalists for scoops and money laundering allegations.

News Corp., which publishes this blog, has said it’s cooperating with the series of probes and it’s now spent nearly $350 million on the investigations, based on totals disclosed in previous earnings statements.