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Slideshow News Corp's Murdoch backs Monti reforms in Italy Tweet Share this Email Print Related News Italy's Monti urges political backing in euro crisis 5:16pm EDT WRAPUP 3-Italy's Monti urges political backing in euro crisis 5:03pm EDT Austrian minister says Italy too may need bailout Tue, Jun 12 2012 Ex-British PM contradicts Murdoch claim to inquiry Mon, Jun 11 2012 Blair says feared fight with Britain's media barons Mon, May 28 2012 Analysis & Opinion A sinking Italy is grasping for direction Hypocrisy taints Murdoch grilling Related Topics World » Italy » ROME | Wed Jun 13, 2012 4:58pm EDT ROME (Reuters) - Media tycoon Rupert Murdoch praised Italian Prime Minister Mario Monti on Wednesday, saying the government's economic reforms would help attract international investment and pledging to continue building his own local operations. Murdoch, one of the world's most powerful media barons who controls Sky Italia, Italy's biggest satellite pay television broadcaster is one of the biggest foreign investors in Italy. "But the recovery measures Prime Minister Monti and the government are putting in place are encouraging for News Corp and others who are anxious to invest in Italy's future," he said, according to the text of remarks at a dinner in Rome. "Those actions, together with strong political leadership, can send a clear message to international markets that Italy is truly an opportunity for investors and talent," he said. Monti, appointed last year to head a technocrat government after the fall of the scandal-plagued Silvio Berlusconi, has faced mounting opposition to his reform drive and has complained of flagging support from Italian business leaders. Italy has fallen deeper into recession over the past year and has seen its borrowing costs rise sharply in recent days as investors have worried over its ability to stimulate its sluggish economy and cut its towering public debt. Murdoch called on Monti to continue his reform drive and mentioned in particular labor reforms intended to free up hiring and firing rules to encourage companies to hire more younger workers on permanent contracts. Murdoch, a rival of Berlusconi, owner of Italy's biggest commercial broadcaster Mediaset, called for guarantees of free competition including "independent and competent regulators working transparently and professionally". The remark followed bitter complaints this month over the way political parties forced through the nomination of their favorites to the board of TV regulator Agcom, which critics have accused of favoring Berlusconi's interests. 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