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Murdoch won't leave News Corp.

by Aaron Smith
Publication: CNNMoney

July 19, 2011


News Corp. CEO Rupert Murdoch told members of the British Parliament on Tuesday that he will not step down from his place at the helm.

"No," said Murdoch, when asked during testimony if he would relinquish control of his company in the wake of a phone hacking scandal. "I'm the best person to clean this up."

Murdoch blamed the wrongdoing on others. "They let down the company, me, and it's for them to pay," he said.

Earlier on Tuesday, News Corp. denied reports that Chief Operating Officer Chase Carey is set to replace Rupert Murdoch as CEO of the media conglomerate troubled by a phone hacking scandal.

"As you would expect, the Board [of Directors] has had a plan in place for some time and it regularly re-evaluates those plans," a senior News Corp. official told CNN. "Suggestions that a plan is currently being accelerated or implemented are inaccurate."

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Story also appeared in Gulf Daily Magazine and WIBW