News Corporation owner Rupert Murdoch might be replaced by Chief Operating Officer Chase Carey as CEO of the company, but still remain chairman, according to Bloomberg.
People with knowledge of the situation said that whether or not the 80-year-old Australian media mogul steps down as CEO depends in part on his performance before U.K.’s parliament.
Murdoch became embroiled in the phone hacking scandal thanks to his U.K. newspaper News of the World.
The tabloid closed down after an investigation revealed it had participated in the phone hacking of celebrities, British politicians, the families of terrorist attack victims, dead soldiers and others.
Rupert, his son James and former CEO of News International Rebekah Brooks are scheduled to give testimony before the House of Commons Select Committee on Culture, Media and Sport on Tuesday.
News Corp. executives who watched Murdoch rehearse for his Parliament appearance were reportedly concerned with how he answered questions.
So far, 10 people have been arrested in connection to the News International phone hacking scandals.
The Federal Bureau of Investigation and the Department of Justice have launched their own investigations into whether News Corp. participated in the hacking of 9/11 victims or U.S. officials.
Michael Wolff, author of the Rupert Murdoch biography “The Man Who Owns the News,” has predicted that the phone hacking scandals that have shaken News Corp. in recent weeks will ultimately lead to the resignation of Murdoch and his son.
Afshin Rattansi, a Middle Eastern affairs journalist even suggested that “Fox News is finished” if U.S. authorities can prove that News Corp. employees attempted to hack into the voicemails of terror attack victims killed on Sept. 11, 2001.