When we learned that Rupert Murdoch would be participating in News Corp.’s earnings call yesterday, we figured the question of who would take the reins of the company would come up. It did, and here is what Murdoch replied, according to Reuters: “Chase is my partner and if anything happened to me I’m sure he’ll get it immediately.”
This is obviously a big change from what had been planned before the phone hacking scandal. James Murdoch was widely believed to be next in line for News Corp., but his name has taken a hit since the scandal broke, and he’s also been accused of lying to Parliament during his testimony. Of course Murdoch said that he had “full confidence” in his son, but Chase Carey is officially now the man.
Murdoch has to deal with a pissed off son, but at least he has some reason to smile – News Corp. posted a profit of $982 million, which is $80 million more than last year.
And we thought this scandal was going to be a big deal.