Why did News Corp.’s stock go up after James Murdoch got the hook? Because investors think the move signals the company might sell its British papers, Amy Chozick writes:
Wall Street has long disliked News International, publisher of The Sun and the closed News of the World. The unit accounts for less than 3 percent of News Corporation’s profits and brings outsize troubles. Analysts estimate that the cost of legal fees and settlements related to the hacking crisis could reach $1 billion. News Corporation has a market capitalization of $49 billion.
>>Investors, here’s a new headache: The FBI is looking in to whether New Outdoor Russia, a former News Corp. subsidiary, paid bribes to local officials. Two sentences in this account stand out: 1) “The head of the company, Maxim Tkachev, was shot outside his office in 2002″; 2) “In 2008, News Outdoor Russia’s offices were raided by Russian anticorruption authorities investigating a Moscow city official.”
• Instagrams from reporters covering the primaries, or, if you prefer, “Journalists on Campaign Trail go for Vintage Look.” || Related: Photojournalists debate ethics of Instagram, Hipstamatic.
The copy editors grunted loudest when the dress code police first showed up. They claimed that their winter shorts were perfectly acceptable office wear and, considering the length of their leg hair, nobody would even notice that they weren’t wearing long pants. And the men concurred.
• Sunday’s New Haven Register was the last to be printed locally. The paper will now be printed by the Hartford Courant; the Register talks with some of the people who’ve been laid off.
• “Homicide Victims Rarely Talk to Police”: 25 silly newspaper headlines, collected (forward this to someone in your family before they do it to you).
• Here’s a full obituary on Amid Capeci, who died last week. The former design director of Newsweek and Rolling Stone was 50.
• New York Times Web traffic was down 5 percent in January.
• And in case you missed this Sunday: “Newsies” is sort of a documentary. Dan Barry writes a loving account of the 1899 newspaper boy strike against Hearst and Pulitzer. || Related: 125 years of Hearst || Other weekend news: Bids for Philadelphia papers are in | NYT editor Jill Abramson bumped as Barnard commencement speaker