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"Rupert Murdoch has said that the phone hacking scandal at his defunct Sunday tabloid the News of the World has been a &amp;quot;major black eye&amp;quot; for News Corporation. The News Corp chairman and chief executive, who received a cash bonus of $12.5m (\u00A37.7m) for the last financial year, made the admission in the company&amp;#039;s annual report, reports The Australian.  &amp;quot;As has been widely publicised, our company has received a major black eye from the phone hacking scandal at our News of the World newspaper in the UK,&amp;quot; he wrote.  &amp;quot;As I said at a parliamentary hearing, this episode has been the most humbling of my career.  &amp;quot;Let me be clear: the behaviour carried out by some employees of News of the World is unacceptable and does not represent who we are as a company. It went against everything that I stand for.&amp;quot; Murdoch admitted that the various investigations and legal cases resulting from the phone hacking scandal &amp;quot;could damage our reputation and might impair our ability to conduct our business&amp;quot;.  However, the 80-year-old billionaire said that News Corp was co-operating with &amp;quot;the relevant authorities in both the UK and the US&amp;quot;.  He said that news director Joel Klein, a former official at the US Justice Department, has been given the job of &amp;quot;getting to the bottom of the matter&amp;quot;. Murdoch also expressed his belief that he can &amp;quot;put things right&amp;quot;, after he pledged last month to do &amp;quot;whatever is necessary&amp;quot; to prevent a repeat of the phone hacking scandal that resulted in the closure of the News of the World. &amp;quot;We are better positioned financially and operationally than we have ever been,&amp;quot; he said, after News Corp reported operating income of $4.98bn (\u00A33.08bn) in the 12 months to the end of June.  &amp;quot;I realise the current flavour of the day is economic pessimism, and it is clear that Europe in particular is in the midst of a period of extreme volatility. &amp;quot;However, I am optimistic about the future because I believe that News Corporation... will continue to shape it.&amp;quot; "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/media/news/a339560/rupert-murdoch-says-phone-hacking-scandal-was-a-black-eye-for-news-corp/>