Still pulling the strings

Whatever the prevalent view of the Murdoch media empire and the sinister beings who dwell therein, there are few allegations that it is controlled by timid dummies. Let’s face it, buying back undervalued shares in the midst of a parliamentary bile-fest displays the sort of cojones you wish that government ministers would demonstrate when dealing with the banks.

As mentioned before, News Corp (which includes News International in its massive holdings) is a seriously ambitious and capable global player. Markets have consistently underestimated Murdoch and he presently showing the same ability to wrong-foot opponents by agreeing to appear before the Media, Culture & Sport Select Committee. As one media industry contemporary is reported to have commented, "The bastard is up to something".

Let’s just hope that MPs don’t need to refer to testimony from Andy Hayman and Paul McMullan who are currently in joint top position on the “most unreliable witness” leader board.