London—As rumors swirled that he would soon be replaced as CEO of News Corp., Rupert Murdoch testified Tuesday before a select committee of Parliament. Testifying beside him were his son, James, the deputy COO of News Corp., and Rebekah Brooks, former CEO of News Corp.'s News International, forced to resign after being implicated in the phone hacking scandal surrounding the company's News of the World
tabloid, which was shuttered last week.
Testifying before the committee, Rupert Murdoch said, "This is the most humble day of my life." (And he made that statement before he was hit in the face with a shaving cream pie by a protestor.) In general, Murdoch spoke in short answers and deflected responsibility for the scandal.
Rumored to be replacing Murdoch, who would remain chairman under the reported plan, would be Chase Carey, who is currently News Corp.'s COO. Additionally, Standard & Poor's Rating Service said it has placed News Corp. on CreditWatch with negative implications in the wake of the phone hacking scandal.