MUMBAI: James Murdoch‘s fate as BSkyB chairman could be decided on Thursday when the pay TV service provider‘s board meets to discuss corporate governance.

BSkyB will announce its financial results on Friday.

Two former News of the World executives have accused Murdoch of misleading Parliament when he learnt of the reporting practices of the former newspaper. Some media reports suggest Rupert Murdoch may be forced to sacrifice his son to save his empire in much the way that Abraham in the Bible had to sacrifice his son. There is also speculation about whether Lachlan could return to the fold if the sacrifice is made.

Media reports also state that the US Department of Justice has been preparing to issue subpoenas as part of preliminary investigations relating to alleged foreign bribery and alleged hacking of voicemail of 9/11 victims.

Meanwhile, US media conglomerate News Corp‘s Management and Standards Committee (MSC) has published its Terms of Reference (ToR). The MSC is authorised to co-operate fully with all relevant investigations and inquiries in the News of the World phone hacking case, police payments and all other related issues across News International, as well as conducting its own enquiries where appropriate.

News Corp has authorised the MSC to have oversight of, and take responsibility for, all matters in relation to the News of the World phone hacking case, police payments investigation and all other connected issues at News International (NI).

These include, but are not limited to, the police enquiries, civil proceedings, Parliamentary proceedings, Lord Justice Leveson‘s public inquiry and the PCC.

The MSC shall ensure full co-operation with all relevant investigations and is authorised to conduct whatever internal investigations it thinks fit to enable it to carry out its role in relation to all NI papers.

The MSC has powers to direct full co-operation from NI personnel with all external and internal investigations and to preserve, obtain and disclose appropriate documents.

The MSC will review existing compliance systems and will recommend, and oversee the implementation of, new policies, practices and systems designed to create an updated and robust governance, compliance and legal structure for NI.

The MSC will report directly to Joel Klein, EVP and News Corporation board director, who continues to have executive authority over these matters. 

Joel Klein shall in turn report in this role directly to Viet Dinh, an independent director and Chairman of News Corporation‘s Nominating and Corporate Governance Committee. Joel Klein and Viet Dinh shall keep the News Corporation board of directors advised, as appropriate.

As already announced, the Chairman of the MSC is Lord Grabiner QC. The full-time executive members of the MSC are William Lewis and Simon Greenberg. Jeffrey Palker continues in his role as News Corporation‘s General Counsel for Europe and Asia as well as being an executive member of the MSC.

Linklaters has been appointed as legal adviser to the MSC.

The MSC is authorised to retain such other professional advisers as it thinks fit.
 

Mumbai: US media conglomerate News Corp has confirmed the formal establishment and extension of the mandate of the Management and Standards Committee (MSC) as an independent body outside of News International.

The MSC has also confirmed the appointment of Lord Grabiner QC as its independent Chairman. Lord Grabiner, 66, is a commercial lawyer who has more than 40 years of experience of high-profile litigation. In addition, he is a well-known and widely-respected figure in the banking, finance, academic and business worlds.

The MSC will report directly to executive VP and News Corp Board director Joel Klein, who in turn will report to independent director and News Corp‘s Nominating and Corporate Governance Committee chairman Viet Dinh. Both will update the News Corp Board of directors which has given the MSC its full support. 

The extension of the MSC?s mandate will be confirmed in its Terms of Reference which will be published in due course. Klein, who has previously held the position of Assistant Attorney General in the US Department of Justice, said:"The extension of the MSC is the next step in dealing with the issues surrounding News International. It will co-operate fully with all authorities and also lay the foundation for future standards. It is therefore vitally important that it is independent and properly governed. We are very pleased that such an eminent person as Lord Grabiner has agreed to be the independent Chairman. He will bring his undoubted experience and intellect to this very important role. His appointment clearly demonstrates that we are serious about putting things right that have gone wrong in the past."

The MSC is authorised to co-operate fully with all relevant investigations and inquiries in the News of the World phone hacking case, police payments and all other related issues across News International, as well as conducting its own enquiries where appropriate.

It will also be responsible for proposing and overseeing the implementation of new compliance, ethics and governance procedures at News International.

William Lewis and Simon Greenberg will be formally seconded to the MSC from their current positions at News International as full-time executive members with immediate effect.

All responsibilities from their previous roles as Group General Manager and Director of Corporate Affairs will be reassigned.
News Corp‘s General Counsel for Europe and Asia Jeff Palker who is the other MSC‘s executive member, will continue to be responsible for legal affairs throughout the region including direct oversight of the legal function at News International.

The MSC will be housed in a secure unit separate from the main News International office to ensure independence.