Murdoch may step down as CEO of NewsCorp

Murdoch may step down as CEO of NewsCorp

According to Emily Chang of Bloomberg TV, Rupert Murdoch is considering stepping down as CEO of NewsCorp. If Murdoch were to do so, he would be succeeded by COO Chase Carey and would remain on as the company’s Chairman.

Chang says that Murdoch’s performance in answering questions before the British Parliament is the deciding factor as executives are concerned that Murdoch “won’t do well”.

The news that Murdoch may step down is now being reported by various outlets including CNBC.

This news comes on the same day that The Sun and News International websites have been hacked by the hacking group LulzSec. The Sun website was redirected first to a notice proclaiming Murdoch’s death, then to the group’s Twitter stream. As of this posting, all News International sites are down due to the hacking.

Murdoch, the 80-year-old CEO of News International, recently closed down one of its flagship properties, The News of the World, due to an ongoing investigation of phone hacking on the part of its reporters.

The tabloid had been hacking into the private phone calls of celebrities and political figures for some time, but its downfall came when proof surfaced of its employees reportedly hacking the phone of the parents of murdered girl Millie Dowler, among others. The investigation into the hacking indicated that they had potentially interfered with the police investigation into the case, and unwittingly made it seem as if the girl was still alive to her parents, by deleting voicemail messages on the phone.

Murdoch closed the paper in an attempt to divest the rest of NewsCorp International from the blemish on its reputation, but many see it as damage done.

This is a developing story. Please refresh for the most current information.

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