Today, News Corp. Chairman and CEO Rupert Murdoch, his son James and former senior executive Rebekah Brooks will be quizzed by British MPs on what they knew about the phone hacking allegations engulfing News International, the British arm of Murdoch's global empire, and whether there was a cover-up.
They are not the only ones facing questions today. Two former high-ranking police officers will also be appearing. Sir Paul Stephenson resigned as Metropolitan Police Commissioner Sunday night, and John Yates quit his post as an Assistant Commissioner Monday.
Stephenson and Yates will face questions from the Parliamentary Home Affairs Committee at 7AM ET. The Murdochs and Brooks will appear before the Culture, Media and Sport Committee at 9:30AM and 10:30AM ET respectively. You can read live 'Huffington Post' updates on the proceedings here.
James Murdoch is Chairman and CEO of News Corp.'s European and Asian operations, and Rebekah Brooks was, until she quit on Friday, CEO of News International. She was arrested Sunday on suspicion of conspiring to intercept communications and corruption.
The Murdochs initially declined to appear before the committee but changed their minds after they were issued with a summons to attend.
News Corp. has immense US TV assets including the Fox broadcast network, Fox News, Fox Television Studios, FX, My Network TV and Fox Sports. It also owns numerous US newspapers including 'The New York Post' and 'The Wall Street Journal,' and recently acquired a 27 percent stake in Hulu.
Today's events could have a huge knock-on effect on the company. According to Bloomberg.com, execs are considering replacing Rupert Murdoch as CEO with current COO Chase Carey.
Sources told Bloomberg that a decision hasn't yet been made and a move depends in part on Murdoch's performance before Parliament today. Murdoch would remain chairman, the sources said.