The Murdochs’ scandal-plagued media company has proved surprisingly resilient

“The most humble day of my life,” is how Rupert Murdoch, the boss of News Corporation, described his experience being excoriated by British parliamentarians in July 2011. Accusations of phone hacking, police bribery and negligence involving Murdoch’s News of the World (which he had just shut down) were so grave that it seemed News Corp’s share price would be humbled too. Some even predicted the media group’s implosion. However, to the surprise of skeptics and supporters alike, News Corp is flying high again. Its share price has climbed by 53% in the past year to nearly $25, a peak not reached since 2007, before the financial crisis. The firm continues to face police probes and civil lawsuits. More than 80 people have been arrested in connection with phone hacking, including Rebekah Brooks, a former boss of News International, its British newspaper division, who appeared in a London court on September 26th on conspiracy charges. Yet investors are more excited than anxious.