Murdoch Defends Son as New CEO of BSkyB
From Reuters and Bloomberg News
James Murdoch weathered a storm of intense criticism at his debut British Sky Broadcasting Group shareholder meeting, as Chairman Rupert Murdoch fiercely defended his son’s appointment as chief executive.
“There is no conflict of interest,” the elder Murdoch said.
There were bitter words from the audience. “You have an arrogance to shareholders that is appalling,” one investor said.
Despite the furor, James Murdoch was confirmed as a board member.
BSkyB also reported earnings of $150 million in the three months ended Sept. 30, compared with break-even in the same period last year. Revenue increased 17% to $1.42 billion.
