News Corp has 'full confidence' in Rupert Murdoch

News Corporation have released a statement saying they have "full confidence" in their Chairman and CEO Rupert Murdoch after the media mogul was ruled "not a fit person" to run the company by MPs on the culture, media and sports committee.

The Board of Directors of News Corporation met today and announced its full confidence in Rupert Murdoch’s fitness and support for his continuing to lead News Corporation into the future as its Chairman and CEO.

The Board based its vote of confidence on Rupert Murdoch’s vision and leadership in building News Corporation, his ongoing performance as Chairman and CEO, and his demonstrated resolve to address the mistakes of the Company identified in the Select Committee’s report.

– News Corporation statement