Media Navel Gaze: April 11, 2011
Headlines focused on the unfocused budget debates all last week, with some networks and cable stations including a "shot" clock, ticking away to the midnight deadline, which seemed to take away from the seriousness of the stalemate. Now focus will turn to the budget ceiling and taxes. Elsewhere:
- President Obama kicked off his re-election campaign;
- Japan suffered another round of tremors, keeping the nation on high alert for another extended period of time;
- Google moved closer to its $700-million acquisition of ITA Software, marking its potential entrant into flight reservations;
- A fuselage of a Southwest Airlines jet ruptured, forcing Boeing to try to explain away that this was not supposed to happen "until much, much later," really not too reassuring to many; and
- The Dow shed a few points last week to end at 12,380.
All the News That's Fit to Hack
Rupert Murdoch's tabloid, News of the World in London was forced to apologize, admit liability and offer payments to those impacted when their voicemails were hacked by an operative working for the newspaper. Among those alleged victims were Sienna Miller and at least two dozen other celebrities and politicians. The admission was a volte face (great language, Financial Times) and comes as a crucial time for the publisher, which is trying to gain permission from the UK government to buy the balance of British Sky Broadcasting that it doesn't already own. No word from Sienna but the Murdoch clan claimed no reputational damage.