The boards of directors of both News Corp and BSkyB (40 per cent-owned by News) should look at the history of accountants Arthur Andersen and tremble. The accounting firm was brought down by a legal judgment that was eventually overturned. If News gets in US legal trouble, it could be hobbled before justice is done. As at Andersen, the problem at News is perceived to be cultural. Andersen had no way to make a clean break with its past, but News could, because its culture is so closely identified with Rupert Murdoch and his family.

BSkyB is not tainted by the hacking scandal, but James Murdoch, the board chairman, was responsible for the UK newspapers when one of them engaged in what public opinion has already judged to be a culpable cover-up. The reputational stain probably makes him the wrong person to lead the board, even if he acquits himself especially well before UK parliamentarians on Tuesday.

Within News Corp, Rupert Murdoch, the chairman and chief executive, has consistently paid disproportionate attention to the UK newspapers, by now a minor part of the group. He was loyal to Rebekah Brooks, the newspaper executive arrested on Sunday. And investors, regulators and the courts simply do not believe his statement that “News Corporation is not Rupert Murdoch”.