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Reuters Writer Retracts Entire News Corp Tax Story - So Does News Hounds

Reported by Aunty Em - July 13, 2011 -

Earlier today News Hounds published an article based upon an OpEd piece by David Cay Johnston on Reuters. The story has since been retracted FULLY in the article "How I misread News Corp's taxes." It begins:

Readers, I apologize. The premise of my debut column for Reuters, on News Corp's taxes, was wrong, 100 percent dead wrong.

Rupert Murdoch's News Corp did not get a $4.8 billion tax refund for the past four years, as I reported. Instead, it paid that much in cash for corporate income taxes for the years 2007 through 2010 while earning pre-tax profits of $10.4 billion.

The very long article is full of numbers. Since numbers are my natural enemy, I ask you to please read it. It's a full mea culpa. While I regret following Reuters down the rabbit hole, they've always been a very good source heretofore.