MUMBAI: Rupert Murdoch has got a major backing from shareholder advisory group ISS, as it recommended that shareholders vote to re-elect News Corp‘s board of directors at its annual meeting on 16 October.

The move is a reversal for ISS ? Institutional Shareholder Services ? one of the most influential shareholder advisory firms in the US, which last year was highly critical of News Corporation in its advice to investors ahead of the company‘s annual meeting, according to a report by The Guardian.

The support comes after a number of investors and advisory firms joined an action on Wednesday launched by dissident shareholders seeking to break Murdoch control of News Corp. The campaign includes Hermes, a British fund manager that controls ?2.4bn in assets, and Glass Lewis, which advises institutions holding $15tn (?9.6tn) worth of investments. Glass Lewis took the same stance in 2011.

Murdoch and his family own about 12 per cent of News Corp but control 40 per cent of its voting rights.

Glass Lewis has insisted on shareholders? vote for appointment of an independent chair.

Hermes global head of corporate engagement Hans Hirt told The Guardian, "While we acknowledge the recent board changes made by the company, News Corp has still not sufficiently addressed the significant shareholder concerns about its board structure and corporate culture highlighted at last year‘s annual meeting. The time is right for the company to appoint an independent chair in order to rebuild trust, and ensure that the interests of all investors are more properly represented."

According to The Guardian, the ISS report said shareholders should vote for the current directors and expect to see independent action from the board to address any findings, allegations or penalties against the company when the phone hacking investigations conclude.

ISS, which advises more than 1,700 clients on corporate governance issues, said last year the phone-hacking revelations at News of the World exposed a "striking lack of stewardship" and it called on shareholders to vote against the re-election of nearly all of the media group‘s board, including Rupert Murdoch and his sons James and Lachlan.

1992: Birth of an Indian broadcast company

Subhash Chandra Goel, a rice trader from Hisar, launches private satellite channel Zee TV on 1 October 1992 by leasing out transponder on AsiaSat owned by Hong Kong billionaire Richard Li‘s Star TV.

The company was originally incorporated as Empire Holdings Ltd on 25 November,1982 which was later changed to Zee Telefilms Limited with effect from 8 September, 1992 following its entry into the business of entertainment software.

1993:  Zee goes public

Zee Telefilms files for an IPO in September 1993, wherein 8.2 million equity shares of 10 each were offered to the public at a premium of 20 per share. The Company was listed on Bombay Stock Exchange (BSE) on 25 November, 1993 becoming the first listed media company in the country. The move marked the beginning of Zee‘s transformation into an integrated media company with satellite broadcasting, cable and direct-to-home besides print and new media.

1994: Ventures into music and education

Zee Records, the music-publishing arm of Zee, commences operations. The company also forays into education sector with the launch of Zee Education as a division of the company.

1995: The year of Big Bang expansion

Entry into cable distribution

Zee ventures into cable distribution with wholly-owned subsidiary Siticable Networks which commenced operations as an MSO in Delhi. The year also sees the biggest ever tie-up in the Indian broadcast industry with media baron Rupert Murdoch‘s News Corp buying 50 per cent stake into Siticable.

Channel launches

The company launches two more channels - Hindi news channel Zee News and Hindi movie channel Zee Cinema.

International debut

Zee TV goes global with launch in United Kingdon to tap into the Indian diaspora

1996:  African safari

Zee TV launched in Africa on MultiChoice digital platform

First cable channel

Siti Channel launches as the first cable channel in India relaying movies and local content.

1997:  Music channel launch

Music Asia launched later rebranded as Zee Music and is known as Zing in its present avataar.

1998: America calling

Zee TV USA launched offering cricket and Bollywood films to the large Indian dispora in that country. Zee Cine Awards dedicated to award excellence in the Hindi film industry instituted.

1999:  Divorce with News Corp and regional foray

The four-year-old partnership with Rupert Murdoch breaks as Zee buys News Corps 50 per cent stake in Asia Today, Siticable and Programme Asia Trading Company.

Launch of regional channels

The company announced its entry into the vast regional market with the launch of four umbrella channels under the umbrella brand of Alpha, namely Alpha Marathi, Alpha Bangla, Alpha Punjabi and Alpha Gujarato.

The company also launches English entertainment channels to broaden its product offering. Zee English and Zee Movies launched.

During the year, the education division of the company was demerged and transferred to a separate subsidiary company namely, Zee Interactive Learning Systems Ltd.

In September 1999, the company acquired Zee Multimedia Worldwide thereby bringing the international operations including the broadcasting business of ZMWL under the company‘s control.

2000:  Asian expansion and distribution ventures with Viacom and MGM
Launches Internet over Cable services - Becomes first cable company in India to do so. Enters into content distribution joint ventures with MGM and Viacom and launches pay bouquet of channels in the Asian region.

2001:  Experiment with film production
The company enters film production with Gadar: Ek Prem Katha by funding the film produced by old Zee hand Nitin Keni. The film went on to shatter box office records by becoming the highest grosser film of its time.

2002:  ETC acquisition

The company got a foothold into Punjabi language market with the acquisition of a controlling stake in ETC Networks Ltd, a company engaged in production, marketing and distribution of two television channels with a leading presence in Music and Punjabi language segment.

2003:  Launch of niche channels

Launches five new channels for the DTH market viz. Action cinema, Classic cinema, MX, Premier cinema and Smile TV. Launches a premium fashion and style channel Trendz targeted at the fashion conscious Indian consumer.

Enters into a distribution tie-up with Rajshri Pictures for theatrical distribution of films in India.

2004:  Direct-to-Home entry

Dish TV, India‘s first direct-to-home platform launched

2005: Zee pads up, gets into sports broadcasting

Zee Sports launched to provide a multi-genre sports entertainment package to the viewers

2006: Zee Telefilms demerged

Zee demerges cable distribution and regional channels by creating two new entities Siti Cable and Zee News Limited.

In November 2006, Zee Sports International Ltd, Mauritius, acquired 50 per cent stake in Dubai-based Taj TV Ltd, Mauritius, which owned ‘Ten Sports‘ channel. Also, the company acquired 50 per cent stake with majority representation in the board in Taj Television India Pvt Ltd, Mumbai which is the distribution arm of Ten Sports in India.

2007:  Change in corporate identity and launch of ICL

Zee Telefilms renamed as Zee Entertainment Enterprises Limited (Zeel).

Peeved by the Board of Control for Cricket in India‘s high handedness while awarding broadcast rights for cricket, Chandra cocks a snook by launching Indian Cricket League thereby forcing the BCCI to come out with its own T20 league, the Indian Premier League.

2010:  Ups stake in Taj TV

Zee takes full control of Taj TV by acquiring 45 per cent stake in the company and taking its holding to 95 per cent
Launches Ten Cricket - a dedicated 24-hour Cricket Channel, Ten Action+ - sports channel showcasing the best football action from around the world

Launches India.com - Joint Venture between Zee Entertainment Enterprises Ltd. and Mail.com Media Corporation

Launches Zee Khana Khazana ? India‘s first 24-hour food channel and Zee Salaam - India‘s first Urdu infotainment satellite television channel

2011:  Distribution JV with Star

In order to plug the massive leakage of revenues in distribution, Zee joins hands with Star India to launch Media Pro, a 50/50 JV.

2012: First Over-the-Top platform
Launches Ditto TV - India‘s first and only OTT (Over-The-Top TV) Distribution Platform. Launches Ten Golf ? India‘s first and exclusive 24 hour Golf channel

MUMBAI: News Corp chief Rupert Murdoch and his son James Murdoch, who is the deputy COO of the company, have seen their annual bonuses decline courtesy the phone hacking scandal, which led to shutting of News of the World newspaper, multi-million dollar suits, arrest of top officials and deferred bid to buyout BSkyB.

As per regulatory filings, News Corp has determined to award only half of the qualitative portion of the annual bonuses for four top executives namely Rupert Murdoch, James Murdoch, David DeVoe and Chase Carey for the fiscal year 2012.

The company?s 81-year-old chairman and chief executive had earned a bonus of $10.4 million in 2012, while his son James earned a bonus of $5 million. As per the filing, Jr Murdoch had declined to take his $6 million bonus in fiscal year 2011 as a result of the hacking scandal.

Overall, Rupert Murdoch?s total compensation too declined for the fiscal year to just over $30 million against $33.3 million in 2011. However, son James? total compensation increased from $11.9 million in 2011 to $16.8 million in the 2012 fiscal.

News Corp Senior EVP and Chief Financial Officer David DeVoe and deputy chairman, president and COO Chase Carey had received an annual bonus of $4.17 million and $8.3 million respectively.

MUMBAI: Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch, has invested $102.7 million in DMG Radio Australia to purchase the remaining 50 per cent stake in the company that was owned by UK media conglomerate Daily Mail and General Trust (DMGT).

Lachlan had in November 2009 bought 50 per cent stake in the company through Illyria Investment. DMG Radio Australia operates commercial radio networks in metropolitan and regional areas of Australia.

"We are pleased to move to 100 per cent ownership of DMG Radio Australia," Lachlan said in a statement.

"When we acquired our 50 per cent interest in DMGRA in November 2009 we set out to create one of Australia?s leading media companies. Over the past three years, working alongside DMGRA?s wonderful staff, we have successfully implemented our growth strategy."

"In that time Nova has regained its position as the number one national network for people 18-39 and we have successfully launched SmoothFM. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) of DMGRA has doubled and the IRR (internal rate of return) on our initial investment is more than 60 per cent.

"We have great confidence in the continuing potential of radio, great confidence in the management team we have built under Cathy O?Connor, and look forward to further growing DMGRA in the coming years."

MUMBAI: News Corp chief Rupert Murdoch has defended British tabloid The Sun?s decision to publish nude pictures of Prince Harry claiming that doing so was necessary to demonstrate lack of "press freedom" in UK.

The issue has raised a stink ever since it was published on Friday sparking criticism from public and politicians alike. In fact, the Press Complaints Commission has received more than 850 complaints from public against The Sun for publishing the pictures.

It is believed that the members of Royal family had asked the PCC to request media not to publish those pictures to which the latter agreed and none of the British newspapers used it. However, on Friday The Sun at the behest of its owner Rupert Murdoch decided to publish those pictures thereby causing embarrasment to St James?s Palace.

No sooner the pictures appeared it kicked up a storm with many questioning the motive behind the move. Many also argued that publishing pictures were an invasion of privacy and one that doesn?t serve any public interest.

According to one school of thought in the British press, the move was Murdoch?s way of warning his critics (read Lord Justice Leveson) who is probing the phone hacking scandal at the now defunct News of the World.

However, Murdoch is unperturbed by the criticism and the media baron took to Twitter to defend the The Sun, "Needed to demonstrate no such thing as free press in the UK. Internet makes mockery of these issues. 1st amendment please."

Murdoch?s defiance notwithstanding fears are being raised that The Sun?s actions will give a reason to Lord Justice Leveson to come down harder on press.

He later came out in defence of Prince Harry saying people should give him a break. "Prince Harry. Give him a break. He may be on the public payroll one way or another, but the public loves him, even to enjoy Las Vegas," Murdoch said somewhat tongue-in-cheek.

MUMBAI: British Member of Parliament and senior Labour politician Harriet Harman has launched a frontal attack on media baron Rupert Murdoch calling on Britian?s political class to forge unity to break up the Murdoch family?s media empire.

The MP also called for setting tighter limits for media ownership once Lord Justice Leveson?s report into press standards is published in order to limit Murdoch?s power saying that the "we can?t wind up leaving the problem of media ownership untouched".

Harman?s comments came as Murdoch?s daughter Elisabeth was preparing to deliver the MacTaggart Lecture at the Edinburgh International Television festival.

Incidentally, Rupert Murdoch?s younger son James Murdoch?s MacTaggart Lecture in 2009 when he criticised the BBC and Ofcom for undermining free market.

It shows the influence of one family that two members within three years get to deliver this lecture," Harnan lamented.

She said News Corp, the owner of The Times and The Sun, with a 37 per cent market share owned too much of the media for a single publisher.

News Corp?s UK assets include News International the publisher of The Sun and The Sunday Times, British Sky Broadcasting where it holds 39.1 per cent and British broadcast television network ITV where he has 7.5 per cent interest.