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News Corp. Reportedly Mulls Carey as CEO

Stocks in this article: NWSA

NEW YORK ( TheStreet) -- News Corp. (NWSA) is considering promoting Chief Operating Officer Chase Carey as CEO to succeed Rupert Murdoch, Bloomberg reported, citing people with knowledge of the situation.

Independent directors on Monday weighed naming Carey as CEO, according to a person close to the board, Bloomberg said. The independent directors, who didn't make a decision, discussed whether the stock market and investors would react favorably to a change, the person said.

Murdoch, who has the board's support, would remain chairman, the people told Bloomberg.

Rupert Murdoch

A decision on elevating Carey hasn't been made and a move depends in part on Murdoch's performance before the U.K. Parliament Tuesday, said the people. Murdoch, his son James, and Rebekah Brooks, News Corp.'s former top publishing executive in the U.K., are scheduled Tuesday to discuss the company's role in the phone-hacking scandal that led to the closure of tabloid News of the World , and to News Corp. abandoning its bid for British Sky Broadcasting (BSY).

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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