S&P Reiterates its BUY rating on A and B Shares of News Corporation

October 24 00:00 2011

NEW YORK, October 24 (RainbowNewsLine.com) – Analyst Tuna Amobi of S&P Capital IQ reiterates her BUY rating on the A andB shares of News Corporation (NASDAQ: NWS).

Analyst Tuna Amobi, in a research note published on October 22, mentions that it was no surprise to hear   bad tempered tone at NWS’s ongoing annual meeting, given the increasing governance concerns amid the phone hacking scandal. There were remarks like CEO Rupert Murdoch to surrender his chair or institutional investors voting against the board’s re-election. Although such events could help in bringing some governance reforms, these would be symbolic since Murdoch’s control 40% of voting power, the analyst says. S&P confirms improving fundamentals and the clarity of ample capital allocation at News Corp.

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