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I'll be monitoring the tweets and postings from several news organizations that are covering the company's annual meeting this morning at the Fox studios. From DealBook:
News media and security outside 20th Century Fox's main gate on Pico Boulevard outnumbered protesters by two to one. About 20 people -- at least one wearing an oversize Rupert Murdoch Halloween mask -- carried pickets beneath studio billboards for Fox television shows like "Glee" and "House." (One example of a picket: "Lying is wrong.") Across the street was the expected media circus, with CNBC prominently positioned on the corner and a line of satellite trucks and other camera crews clustered around. Also across the street, a line of about 20 uniformed LAPD officers stood shoulder to shoulder in a line as if to warn against mischief.
10:12: Murdoch says "We must be an ethical company," but then says the company has been "the subject of understandable scrutiny and unfair attack." The story of News Corp., he notes, "is the stuff of legends."
10:16: From the FT's Matthew Garrahan: "Rupert looks sharper and more with it than he did at the select commitee hearings in London this summer."
10:26: From LAT's Joe Flint: News Corp. board member Viet Dinh says Murdoch "is best suited to serve as chairman of the board."
10:28: Julie Tanner of Christian Brothers says the phone hacking scandal "demands stronger leadership" and that "the board's response has been inadequate." She adds: "We owe it to all News Corp. investors to vote for change."
10:45: Stephen Mayne, an Australian activist investor, supports a motion that would name an independent chairman. "It's time to get on the governance high road," he said.
1047 a.m.: From the NYT's Michael J. de la Merced: A representative for the Church of England began speaking up in favor of the resolution to separate the roles of chairman and chief executive. Additionally, he said, the Murdoch family's voting power must be reduced so that it is more in line with its economic stake in the company. Piqued by continued criticisms of News Corp.'s returns, Mr. Murdoch shot back to the Church of England representative, "Your returns haven't been great either."
10:49: From NPR's David Folkenflik: Murdoch periodically irritated - cutting off questioners - pounding lectern. To a persistent critic: "Stephen, I'd hate to call you a liar."
10:54: Murdoch is making a big deal over Fox News interviewing British lawmaker - and Murdoch opponent - Tom Watson. "It's called fair and balanced," he says. He's obviously not taking the road to contrition.
10:58: Things are getting testy. From NYT: A shareholder asked a question about the "thousands" of people whose phones were hacked by journalists at The News of the World and how the board is conducting its inquiry into the matter. Mr. Murdoch responded, "It's not thousands. I've not heard that figure before."
11:02: Just wondering: Why isn't the WSJ, which is owned by Murdoch, live-blogging this event?
11:17: From Garrahan: News Corp. director Andrew Knight now trying to grind critics into submission with 10 minute response to question.
11:44: Murdoch admits making a huge mistake with the MySpace purchase. "We then mismanaged it in every way possible."
11:48: Haim Saban is shocked, shocked that no one is asking any questions about the company's fundamentals - just that little 'ol phone hacking scandal.
:11:50: Meeting is closed. Murdoch is clearly scripting this carefully.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.