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Murdoch Names Chase Carey as Successor

While denying he is stepping down as CEO.

Rupert Murdoch on Wednesday publicly acknowledged News Corp. Chief Operating Officer Chase Carey as his successor—not Murdoch’s son James, the deputy COO. Although Carey’s name has been thrown around this summer as a possible successor, many believed that Murdoch had been grooming his son James for the role--at least until the company's phone-hacking scandal exploded. But Murdoch didn’t count James out yet, saying he and Carey had “full confidence” in James, who has been in hot water in the phone-hacking scandal and testified with his father before Parliament on July 19. “Chase is my partner and if anything happened to me, I’m sure he’ll get it immediately—if I went under a bus,” Murdoch said.