Railing against the roaring ’90s

Variety editorial

There are growing signs that corporate shareholders are getting restless. And so are some of the corporate oversight groups, which are looking askance at policies that were standard operating procedure in the roaring 90’s.

Rupert Murdoch has a firm hold on News Corp., but shareholders in British satcaster BSkyB are making a lot of noise over the fact that Murdoch’s 30-year-old son James has been automatically slated to succeed departing CEO Tony Ball.

They want a wider range of candidates to be considered and they’re being heard.

Also this week, angry institutional investors in Carlton Communications, Britain’s soon-to-be-merged ITV commercial broadcaster, managed to persuade Michael Green to resign as chairman-elect of ITV. Green is the sort of forceful media maverick who, a decade earlier, would have won the day.

Another portent: The new head of the Public Company Accounting Oversight Board, William McDonough, this week blasted excessive corporate compensation, terming it morally indefensible.

Excessive compensation is morally indefensible? Surely they can’t be talking about showbiz.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety