Rupert Murdoch's troubles in Britain are escalating fast. Since closing his mass-circulation News of the World, he's had to buy back stock to maintain value in his vast holding company, News Corporation. Today, he abandoned plans to take full ownership of the satellite broadcaster British Sky Broadcasting. The scandal over cell phone hacking and bribery by NOW has been reported for years by the Guardian, but not much by anyone else. Then, last week, the paper revealed that its editor-in-chief had warned Prime Minister David Cameron not to hire Andy Coulson, who resigned from News of the World because of the scandal.
