News Corp's Phone-Hacking Saga: Celebrities Compensated, But What Lies Ahead for The Sun?

News Corp's NWS NWSA British newspaper group, News Group Newspapers (NGN), settled multiple phone-hacking claims from various individuals, including celebrities and a former minister. 

NGN, which publishes the Sun and the now-defunct News of the World, offered public apologies and paid substantial damages to those affected. Victims included Melanie Chisholm (Mel C) from the Spice Girls, actor Keith Allen, Shane Lynch from Boyzone, and a 2005 London bombing victim, Reuters reports.

The phone-hacking scandal first emerged in 2006 with the arrest and conviction of individuals linked to News of the World for accessing voicemails of British monarchy aides.

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This scandal led to the closure of News of the World in 2011, the imprisonment of its editor and others, a public inquiry into press standards, and NGN paying tens of millions in damages. 

NGN expressed its intent to conclude litigation for over 20 years.

Former energy minister Chris Huhne, another claimant, accused NGN of targeting him to derail his career. 

He received a six-figure sum and urged police to reopen investigations. In Huhne's case, NGN denied any corporate motive, claiming its coverage was legitimate and in the public interest.

Further allegations against the Sun, including those from Prince Harry, are set for trial in 2025, though NGN denies any wrongdoing at the Sun.

Price Action: NWS shares traded higher by 0.84% at $22.91 on the last check Wednesday.