Murdoch's Brilliant International Tax Game

“News Corp. has 152 subsidiaries in tax havens, including 62 in the British Virgin Islands and 33 in the Caymans. Among the hundred largest U.S. companies, only Citigroup and Morgan Stanley have more tax haven subsidiaries than News Corp.”
 — Old Man Murdoch is no dummy. And this comes from the same legal department that engineered the shutdown of News of the World, so you know they know exactly what they’re doing there too. This is, in part, why it was always hilarious when people used to make fun of Murdoch’s New York Post for being unprofitable. That’s part of the plan! Any good media company, from News Corp. to Gawker Media, wants to, in short, lose money in America for tax purposes.