Murdock's Watergate?

As Rupert Murdock and son James give testimony at Westminster, no one, it seems, but former Nixon counsel John Dean sees the mess that the Murdock media empire is being sucked into, similar to Watergate which eventually forced then president Nixon to resign from office.
The hacking scandal has quickly spread like an uncontrolled cancer, which even few could have imagined even a fortnight ago, is shaking the pillars of a rough and tumble media baron's empire. Suddenly Murdock has turned into a 'Charles Forster Kane', humbly printing apologies in the major British press, sniveling before the British public with wafts of mea culpa, but not mea maxima culpa, and denying in the end of any responsibility for ruses and tactics that could make the underworld blush.
On the American side of the Atlantic, the FBI is asked to looked into phone hacking of 9/11 families and victims.
News Corporation, Murdock's media conglomerate, is circling the wagons, using the dodgy journalism of its Fox News and the 'Wall Street Journal' to obfuscate and throw the bloodhounds off the scent of the ever growing stronger scent of illegality, corruption, and brute use of power to run circles around democratic institutions of government in the UK and the US and elsewhere.
News Corp. board will back up Murdock even though the company's stock is falling; institutional investors are getting antsy before perhaps dumping the company's stock.
Murdock is not defanged, but he is damaged goods, as is his son James. His dreams of a family empire surviving a third or fourth generation is more and more just that a wish.