According to the article, Rupert Murdoch, the News Corp chairman and chief executive admits that his company was involved in phone hacking but denies he knew what was going on in his company saying that there was a cover-up but he was not aware of the despicable business practices his company was being involved into.

He may be able to save at least his name from being implicated in his company’s misbehavior; however, this scandal has negatively affected the company itself. Not only will the reputation and brand value of the company be tarnished, also other companies will avoid being too much associated with News Corporation in fear of losing the customer’s loyalty they have built with them for many years.

Personally, I think this is a huge scandal and that the owner of the company should not be the one giving excuses and trying to distance himself from the bad dealings and misconduct of his company. Whether he is aware or not, he should take full responsibility of what happens inside his company. As a CEO, it is of high priority for him to take business ethics seriously and if not, then, he does not deserve to lead the company.

http://www.guardian.co.uk/media/2012/apr/26/murdoch-admits-phone-hacking-coverup