News Corp 'has full confidence in Rupert Murdoch'
The News Corporation board says it has "full confidence" in Rupert Murdoch.
In a statement , the board of directors said it supported Mr Murdoch to continue "to lead News Corporation into the future as its chairman and CEO".
On Tuesday, a parliamentary media committee in the UK concluded that Mr Murdoch was "not a fit person" to run a major international business.
But the News Corp board said Mr Murdoch had "demonstrated resolve" to address mistakes at the company.
News Corp had previously said that some of the comments in the report were "unjustified and highly partisan".
Since the committee's report came out in the UK, Labour and Lib Dem MPs have urged the media regulator Ofcom to hasten its review into whether BSkyB, 39%-owned by News Corp, is "fit and proper" to hold a licence, given News Corp's stake.
But the BBC understands that Ofcom will not be "rushed into a knee-jerk reaction".
In a statement earlier, BSkyB said it remained a "fit and proper" holder of a broadcasting licence.
Announcing its results for the first quarter of 2012 , the satellite broadcaster said it was engaging with Ofcom on its assessment.
It pointed to a "positive contribution to UK audiences, employment and the broader economy, as well as its strong record of regulatory compliance and high standards of governance".
Calls for US action
The culture and media committee's report into phone hacking at the News of the World, published by News International - itself owned by News Corp - came after numerous hearings.
Journalists and managers at the now-defunct paper, as well as police and lawyers for hacking victims, were questioned.
The report concluded that Mr Murdoch exhibited "wilful blindness" to what was going on, and that both Rupert and James Murdoch "should ultimately be prepared to take responsibility".
However, the committee was split on that conclusion, leading Conservative members who branded it "partisan" to refuse to endorse the report.
Nevertheless the case has led to calls for action against Rupert Murdoch in the US, where News Corporation is headquartered.
The activist group Citizens for Responsibility and Ethics in Washington (Crew) has asked the broadcasting regulator, the Federal Communications Commission, to revoke the 27 Fox broadcasting licences that News Corp holds in the US.
Crew said the House of Commons report "makes clear that both Rupert and James Murdoch were complicit in New Corp's illegal activities".
"If the Murdochs don't meet the British standards of character test, it is hard to see how they can meet the American standard," said Melanie Sloan from Crew.