Murdoch to Face Wall Street

Rupert Murdoch has some explaining to do. The News Corp. founder will address Wall Street for the first time since the phone- hacking scandal, speaking during his company’s quarterly earnings call. The 80-year-old Murdoch is expected to touch on the question of his succession plans, which has become more pressing since his heir apparent, his son James, became tainted by the hacking scandal at News of the World. A source tells Reuters that Murdoch will acknowledge the scandal, but isn’t expected to issue a mea culpa like the one he gave the British Parliament.