That's what Bloomberg is reporting, citing "some people close to the Murdoch family and News Corp.'s directors." Apparently, the idea would be for Murdoch to resign as CEO, but remain chairman. At almost any other company under this sort of pressure, such a move would seem inevitable (and let's not forget that Murdoch is 80). But it's just hard to believe that he'd be willing to go that far, and besides, who would replace him in the CEO spot?
Although a leadership change hasn't been formally discussed by the board, the situation is fluid and everything is possible, said one of the people, who wouldn't be identified because the matter isn't public.