ethics&governance-news corp

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PROJECT BY-

ABHINAV SHOREY D -02

AISHWARYE KUMAR D-06

DAUV BAFNA D-13

SHEZAD VASI D-42

SIDDHANT GARG D-44

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INTRODUCTION

News Corporation or News Corp. was an American multinationalmass media corporation headquartered in New York City. It was

the world's second-largest media group as of 2011.

News Corp was created in 1979 by Rupert Murdoch as a holdingcompany for News Limited.

At present, News Corporation is headquartered at 1211 Avenueof the Americas, New York.

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NEWS COPORATION

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CODE OF ETHICS

The Company has developed and adopted a Code of Ethics applicable toits Chief Executive Officer and senior financial officers to promote honest

and ethical conduct.

The Chief Executive Officer and each senior financial officer shall, atall times, conduct himself or herself in an honest and ethical manner,

including the ethical handling of actual or apparent conflicts of interest

between personal and professional relationships.

They are responsible for full, fair, accurate, timely and understandabledisclosure in: (a) the reports and documents that the Company fileswith, or submits to, the SEC, and; (b) the Companys other

communications with the public, including both written and oral

disclosures, statements and presentations.

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CODE OF ETHICS

They shall not, directly or indirectly, take any action to coerce,manipulate, mislead or fraudulently influence any independent,

public or certified public accountant engaged in the performance

of any audit or review of the financial statements of the

company.

The Chief Executive Officer shall promptly bring to the attentionof the Companys Audit Committee any information he or she

may have concerning control weaknesses in the design of

internal control, Any fraud that involves management which havea significant role in the Companys internal control.

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CORE VALUES

We are building on our heritage of innovation and challengingthe status quo.(Terminal Value) Together we are striving to unlock the power of the

imagination(Instrumental Value)

We create and deliver contents that anticipates the needs of ourcustomers.(instrumental value)

We are united in our passion for enlightening and engaging ourcustomers.(instrumental value)

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We are moving markets on the power of imagination.(terminal value)

We are removing the boundaries for how and where peopleaccess and enjoy high content .(instrumental value)

We are collaborating to create and deliver meaningfulexperiences to our customers. (instrumental value)

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CASE STUDY

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DIAMOND MODEL

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PURPOSE

News Corporation mission statement "Creating and distributingtop-quality news, sports, and entertainment around the world.

Mission statements state the purpose of the organization, arethe starting point for strategy, and aid stakeholders in decision

making.

Delivering extraordinary experiences for our customers andconsumers is at the heart of who we are.

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STRATEGY AND SCOPE

Continuing to invest in a distinctive editorial proposition, differentiatedfrom free alternatives: depth of news, comment and opinion withauthority

Affirming our news brands as unambiguously "paid-for" Evolving from anonymous daily transactions to deeper customer

relationships, subscription where possible

Embracing opportunity presented by delivery to web, tablet, smart-phone

Harvesting data from these relationships to enhance ad sell and offeradditional profitable services to our customer franchises

Pursuing cost efficiencies and ancillary revenue opportunities

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STANDARDS AND BEHAVIOUR

Keep It Short Tell Employees How to Think, Not What Not to Do Stay Specific Make the Document Real Make Sure Managers Live the Code

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VALUES

We are building on our heritage of innovation and challenging thestatus quo.

Together we are striving to unlock the power of the imagination

We create and deliver contents that anticipates the needs of ourcustomers.

We are united in our passion for enlightening and engaging ourcustomers.

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CASE STUDY

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CASE CHRONOLOGY

November 2005: A story is released about Prince Williams knee injury and he fears his aidesvoicemails are being hacked by a third party, sparking police interest

January 2007: Following a trial, the royal editor for News of the World, Clive Goodman, isincarcerated for four months for hacking personal voicemails (1st conviction of the case). It isreleased during trial that he has phone numbers and voicemail pins for celebrities for the use ofhacking. Goodmans confidant, private investigator Glenn Mulcaire, is jailed for six months on

the same charge. As a result, editor of the News of the World, Andy Coulson, formally resignsyet claims he was unaware of the illegal happenings

May 2007: Coulson is hired as Communications Director for the Prime Minister, David Cameron July 2009: The Guardian releases a claim that News of the World has been involved in a phone

hacking scandal involving 3,000 celebrities, politicians, royals and sports stars under the editorAndy Coulson. Formal inquir ies ensue by the cross-party House of Commons Culture, Media

and Sports Committee (governmental department which oversees the actions of the internetand broadcasting media) to question Coulson regarding these accusations. Scotland Yard saysit is not reopening the case

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September 2009: Scotland Yard reveals it has identified possible victims of hacking November 2009: The Press Complaints Commission says they have found evidence of

hacking

February 2010: The Culture Committee claims there is no way senior executives wereunaware of the practices. News International, the parent company, rejects the claims and

accuses the committee of exaggerations. There is still no evidence Coulson was involved

in the hacking

September 2010: New York Times releases a story based on several reports by formeremployees, suggesting News of the World was practicing phone hacking and Coulson was

fully aware and involved. Former employee of News of the World, Sean Hoare, tells BBCthat Coulson personally asked him to phone tap, and claims it was considered a dark art

in the industry

December 2010: Scotland Yard claims there is no new evidence January 5, 2011: News editor, Ian Edmondson, is suspended in regards to the phone

hacking allegations of 2005 January 21, 2011: Coulson resigns as blaming the phone hacking scandal

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January 26, 2011: Scotland Yard formally reopens the case citing significant newevidence. Also, Ian Edmondson is fired

February 9, 2011: More potential victims are identified, above those listed as victims ofGoodman and Mulcaires (original arrests) actions

April 8, 2011- News International issues a statement saying it will be responding to someof those suing them with an apology, admission of liability, and monetary compensation.

They will continue to attest cases they feel the company is not responsible for

April 10, 2011: News International published an apology for specific instances of hackingfrom 2004-2006

July 4, 2011: The Guardian releases a story accusing News of the World of hacking thephone of a murdered schoolgirl, Milly Dowler, days after she went missing

July 6, 2011: The list of companies suspending their advertising in News of the Worldcontinues to grow

July 8, 2011: Andy Coulson is arrested on hacking allegations but later released on bail.Clive Goodman is re-arrested on charges of bribing police officers, but also released onbail

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July 15, 2011: Former News of the World editor, Rebekah Brooks, resigns as