UK's Sky News: We hacked in the public interest

Rupert Murdoch's British satellite news channel on Thursday became the latest branch of the mogul's global media empire to acknowledge bending the rules in an effort to stay ahead.

Sky News admitted its reporters hacked emails on two separate occasions, insisting that it was done in the public interest.

But legal experts said that's no defense, the police are investigating, and Murdoch's goal of taking full control of Sky News' profitable parent company, British Sky Broadcasting Group PLC, may be at risk.

"It seems less likely, and it may not be in their best interest," said Michael J. Mannor, an assistant professor of business strategy at the University of Notre Dame. "News Corp. is under a lot of pressure in a lot of different ways.... It's important for a news media organization to have the trust of the public, and that's been a big struggle."

Shares in BSkyB fell 5 percent following the revelations but recovered somewhat in late afternoon trading, closing down about 2.4 percent at 642.5 pence ($10.16).

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This story also appeared in the Huffington Post.

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