Global media tycoon Rupert Murdoch is "not a fit person" to run a major international company, British lawmakers investigating phone hacking at his tabloid News of the World reported Tuesday.

The ruling could prompt British regulators to force him to sell his controlling stake in British Sky Broadcasting, a significant part of his media empire.

The damning report accused Murdoch and his son James of showing "willful blindness" to phone hacking at News of the World, and said the newspaper "deliberately tried to thwart the police investigation" into the illegal activity.

The paper's publisher, News Corp. subsidiary News International, "wished to buy silence in this affair and pay to make the problem go away," the Parliament's Culture, Media and Sport Committee found.

Ofcom, the British media regulator that could force Murdoch out of BSkyB, said it was "reading with interest" the report from Parliament.

The agency noted that it "has a duty under the Broadcasting Acts of 1990 and 1996 to be satisfied that any person holding a broadcasting license is, and remains, fit and proper to do so."

News Corp., which Rupert Murdoch leads as chairman and chief executive, accepted responsibility for some failings Tuesday but pushed back against some of the more critical remarks made by lawmakers.

"Hard truths have emerged from the Select Committee Report: that there was serious wrongdoing at the News of the World; that our response to the wrongdoing was too slow and too defensive; and that some of our employees misled the Select Committee in 2009," it said in a statement.

However, remarks made by some lawmakers after the report was issued on Tuesday were "unjustified and highly partisan," it said.

News Corp. said it had already acted on many of the failings highlighted in the report, had brought in new internal controls and is supporting police investigations into alleged wrongdoing.