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News Corp.'s credit rating was put on a negative watch by Standard & Poor's Monday because of "increased business and reputation risks" over the company's phone hacking scandal, Agence France Presse reports. S&P cites investigations into Rupert Murdoch's media empire in both the U.K. and the U.S.

News Corp.'s stock price continued to fall Monday, hitting $14.96, a drop of 4.4 percent, the Associated Press reports. Shares have lost 15.5 percent this month.

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