Is Rupert Murdoch's Influence Waning?

Just weeks ago, media mogul Rupert Murdoch was set to win his $12 billion bid to take over Britain's biggest satellite broadcaster, BSkyB. The U.K. government was indicating it was likely to allow the proposed takeover to happen. But then the News of the World phone hacking and bribery scandal broke, and turned British public opinion so strongly against Murdoch that he suddenly withdrew his multi billion dollar offer to take over the broadcaster. Murdoch's announcement that he was pulling the bid came just hours before British lawmakers were set to consider a measure to ask Murdoch's company, News Corp. to drop his effort to take over BSkyB. The measure was expected to pass with overwhelming support in Britain's House of Commons, demonstrating how sharply Murdoch's influence has waned since the scandal. Murdoch had previously wielded significant political influence in Britain through his media holdings. The scandal may be affecting Murdoch's influence in the U.S., too. U.S. Senators Jay Rockefeller (D-West Virginia), Barbara Boxer (D-California) and Frank Lautenberg (D-New Jersey) have all called for an inquiry into whether any of the unethical investigative techniques or bribery uncovered at Murdoch's U.K. newspaper have been used at any of his U.S. media holdings. The senators specifically question whether telephones of victims of the September 11, 2011 attacks might have also been hacked. News Corp. holds 27 U.S. broadcast licenses and owns the Fox News Channel.