Cameron to Address Parliament in Hacking Scandal; Key Figure Reported Dead

On Friday, Murdoch apologized to the family of Milly Dowler, a teen murdered in 2002. Earlier this month, it was revealed the girl's voicemail had been allegedly hacked and messages deleted by a reporter from the News of the World.

On Tuesday Brooks, Rupert Murdoch and his son and heir James Murdoch, who is Chairman and Chief Executive of News Corporation, Europe and Asia, are scheduled to appear at a tribunal before British Parliament.

James Murdoch has admitted to paying one million dollars to silence a soccer star whose phone was illegally hacked by a Murdoch reporter.

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"The company paid out-of-court settlements approved by me. I now know that I did not have a complete picture when I did so. This was wrong and is a matter of serious regret," James Murdoch said.

"There are going to be lots more questions, in particular about, who knew what when -- which is what we're all dying to find out, because remember this will be the first time that on Tuesday that the people at a senior level from News Corp. or News International have appeared in front of a tribunal like this," Steve Hewlett, a media analyst said.

The questions remains, however, as to if and when this scandal that is rocking the U.K. media landscape will cross the Atlantic and strike the business world in the U.S., as Murdoch's grasp of his multi-billion dollar empire -- which includes Fox News and the Wall Street Journal -- appears to be slipping by the day.