Hugh Lunn

In the last week of June, after a period in the doldrums, the News Corporation share price suddenly took wing again. Buyers piled in. A lazy few hundred million dollars were added to the company’s value. The basis of the revaluation? Apparently, Rupert Murdoch himself had descended from Olympus to participate in a presentation to sharebrokers in Sydney. Enraptured at this visitation, analysts had upped their profit projections for News.