Will News Corp’s UK Problem Become Its US Problem?

[Commentary] Our big story of the week comes from across the pond, in London Town where, for many months, regulators have been examining the business practices of one of the world’s largest media empires. Last week, Rupert Murdoch, the head of News Corporation, testified before a judicial panel about alleged phone hacking and police corruption by News of the World employees. Murdoch’s big news amounted to accusations that at least one former employee presided over a “cover-up” of phone hacking and other dubious practices at The News of the World tabloid.