Shares of News Corporation rallied 2,4% on the Sydeny Stock Exchange today, to $14,50. The slight rebound takes place after a long series of falls that have marked a minus 17% for the title of the group Rupert Murdoch's media outlet, reducing the Australian tycoon's assets by a billion dollars.
Murdoch is expected today at a hearing in the British Parliament, together with his son James and the former director of News of the World, Rebecca Brooks. He will have to answer questions from British MPs about the most burning issues of the tabloid's investigation into illegal wiretapping and corruption of police officers.
Meanwhile, the Wall Street Journal reports that Murdoch himself has been thinking for over a year of leaving the leadership of the group, handing over the functions of CEO to Chase Carey, the current Chief Operating Officer, and remaining in the role of President.
