However, he said the corporation had "shot itself in the foot" several times including over the Jonathan Ross and Russell Brand phone scandal.
It closed the News of the World in 2011 following the UK phone hacking scandal.
News Corp. eventually dropped the bid amid the furor over the phone hacking scandal.
What happened on the phone hacking scandal may be about to happen again on the banking scandal.
Can an ad sway Britons to forgive and forget the News of the World phone hacking scandal?
FORBES: Rupert Murdoch Set To Run an Apology Ad... But Will It Make a Difference?
This is a massive watershed moment, both for the royals and the British press post phone hacking scandal.
In September, Ofcom criticised him for his role in the phone hacking scandal.
News Corp. shelved its plan to expand its ownership of BSkyB last summer as the phone hacking scandal broke.
The BSkyB takeover was dropped after the phone hacking scandal at News Corp newspaper the News of the World came to light.
James Murdoch has received the unanimous backing of the BSkyB board to remain as chairman following the News of the World phone hacking scandal.
The TV producer sought to distance herself from brother James, an executive at News Corp, which has been embroiled in the phone hacking scandal.
Coulson previously stood as press secretary for British Prime Minister David Cameron, but resigned in January over increasing media coverage of the phone hacking scandal.
Or would this be a grotesque over reaction to the phone hacking scandal which is, after all, now being pursued vigorously by the police and through the courts?
The survey was carried out before the latest escalation of the phone hacking scandal - and suggests that confidence in TV news and newspaper journalists has slightly increased since 2004.
BBC: 'Steep' drop in public confidence in MPs, says watchdog
As the owner of the News of the World prepares to compensate people over the phone hacking scandal, a key question now is how the settlement sums will be calculated.
David Cameron's communications chief Andy Coulson "has no case to answer" over continuing allegations about his involvement in the News of the World phone hacking scandal, according to government minister Alan Duncan.
Harding won plaudits for The Times' robust coverage of the phone hacking scandal but had to apologise to the Leveson inquiry over the alleged hacking of emails by one of his own journalists.
News Corp. also said Friday that the new publishing company would not have to pay for any further legal costs or civil claims related to the phone hacking scandal involving its British newspapers.
Three days ago, Rebekah Brooks, the controversial former News of the World editor at the center of the phone hacking scandal, was still enjoying the support of News Corp. chairman Rupert Murdoch.
More than that, it is a chance to frighten the BBC ahead of the publication of the Leveson report on the press in the wake of the phone hacking scandal, due in the next few weeks.
's plans to acquire full ownership of BSkyB that put them on a collision course with British lawmakers in the wake of the phone hacking scandal, with the company eventually deciding to back down under government pressure.
The judge-led Leveson Inquiry, set up by British Prime Minister David Cameron after the phone hacking scandal at Murdoch's News of the World newspaper last summer, is a wide-ranging investigation examining the relationship between the media and politicians.
CNN: Gordon Brown lashes out at Rupert Murdoch, son and tabloid
The News of the World phone hacking scandal, which cost the jobs of top level News Corporation (NWS) executives over the last 10 days, has lit a fire under the armchair and desktop activists in the media reform movement.
FORBES: After UK Scandal, Media Activists Gunning For Rupert Murdoch
Mr. Myler served as editor of the New York Post before returning to the U.K. to run the News of the World in 2007, when former editor Andy Coulson stepped down as a result of the phone hacking scandal.
WSJ: Two Former News of the World Executives Dispute James Murdoch Testimony
The family of murdered schoolgirl Milly Dowler, whose phone was allegedly hacked after her abduction in 2002, is to meet Deputy Prime Minister Nick Clegg on Monday to discuss the independent inquiries related to the phone hacking scandal, and will also meet Prime Minister David Cameron.
"Despite the growing phone hacking scandal, which must have exercised the MPS at a senior level and which was beginning to damage the reputation of the Metropolitan Police in late 2009, senior people appear to have been oblivious to the perception of conflict, " said IPCC deputy chairwoman Deborah Glass.
CNN: UK police watchdog criticizes links with News of the World
The hack came a day before Mr. Murdoch and his son James were expected to appear before Britain's parliament on Tuesday to answer questions about a growing phone-hacking scandal, in which employees of another News Corp. newspaper are alleged to have hacked into cell phone voice mail of celebrities, politicians and in one case a murdered girl.
The News of the World phone-hacking scandal is a snowball that just keeps growing.
Following the phone-hacking scandal, he challenged newspapers to help develop a new system of regulation.
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