James Murdoch Survives at BSkyB

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James Murdoch's role as News Corp.'s public face during the phone hacking scandal won't cost him his chairmanship at British broadcaster BSkyB. Sharholders  re-elected him by a margin of 81 to 19 percent, reports the APadding, "An effort to oust him from the News Corp. board fell short last month with 35 percent of the vote at the company's annual meeting."  Reuters notes that Rupert Murdoch's son was expected to win the vote despite protests outside BSkyB's offices. But the younger Murdoch isn't off the hook yet. "Murdoch will have to work hard to get his image back with the institutional investment community to where it was before the scandal broke," Sanford Bernstein analyst Claudio Aspesi told Reuters. Another adds shareholders were making a business decision, not a personal one. "Some of the current shareholders are unhappy with his performance, not necessarily to do with BSkyB because the company has performed quite well, but in terms of wider issues and perhaps he needs to heed those warnings," said analyst Patrick Yau of Peel Hunt.

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