Rupert Murdoch apologized to victims of criminal phone hacking by one of his tabloids and accepted the resignations of News Corp's top two newspaper executives, Rebekah Brooks and Les Hinton.
Moving to gain control of a scandal washing over his global business, the U.S.-based magnate made a personal apology to the parents of a murdered schoolgirl in what appeared to be an admission that the News of the World, then edited by Brooks and overseen by Hinton, had in 2002 hacked into the voicemails of their missing daughter.
It was that damning allegation, in a rival newspaper 10 days ago, which reignited a 5-year-old scandal that has forced Murdoch to close the News of the World, Britain's best-selling Sunday paper, and drop a $12 billion plan to buy full control of highly profitable pay-TV operator BSkyB.
The crisis has broken the grip that Murdoch, 80, had over British politics for three decades as leaders from Margaret Thatcher, through Labor's Tony Blair to current Conservative Prime Minister David Cameron sought his support.
It has also forced him to make concessions to public calls that the executives who were in charge at the time of the scandal be held accountable.
Somebody left a comment on another thread that I should not get my hopes up about this scandal damaging Fox News, or destroying their credibility along with the other News Corp entities.
Yeah maybe not, but this has been a pretty satisfying summer so far, so I think I will follow my President's advice and embrace the audacity of hope.
How about you guys?
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