Embattled media baron Rupert Murdoch was considering stepping down as CEO of News Corp for more than a year, prior to the phone-hacking scandal that rocked his empire in the UK, a media report said today.
"Even before the scandal erupted in recent weeks, the elder Murdoch had considered stepping down as CEO in favor of chief operating officer Chase Carey, according to people familiar with the situation," The Wall Street Journal said.
That switch -- under consideration for more than a year -— may have little day-to-day impact but it would have enormous symbolic significance.
Under that scenario, Murdoch would remain as executive chairman.
"Even if Murdoch decides to make this change, he wouldn't do it right now," the person said.
"Instead it would likely happen in several months' time, when presumably the furor had died down," the newspaper said.
The 80-year-old Australian-American Murdoch will appear before Britain's cross-party Culture, Media and Sport Committee today accompanied by son James.
Rupert Murdoch's embattled group has publicly apologised twice during the weekend, promising to make amends in the aftermath of the phone hacking scandal.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
