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News Corp. Loses $7 Billion in Market Value Over Hacking ScandalBy Brett Pulley and Devin BanerjeeBloomberg Jul. 13, 2011 |
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 News Corp. (NWSA)’s loss of $7 billion in market value over four trading days shows investor concerns that a probe into alleged phone hacking by journalists at one London newspaper could have a broader impact on the company. Rupert Murdoch’s New York-based media company fell 7.6 percent in Nasdaq Stock Market trading yesterday, the biggest drop since April 2009. It was the fourth straight decline in the company’s closing price, cutting its market value by 15 percent. The stock declined another 13 cents to $15.35 today, giving the company a market capitalization of about $41 billion. Read More 
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