The months-long court case has cast a cloud of scandal and suspicion over the UK newspaper industry and in particular Rupert Murdoch's News Corp.
Murdoch's trust in Rebekah Brooks, which had led some senior News Corp executives and investors to question his judgment, was vindicated Tuesday when she was found not guilty on four charges related to phone hacking.
Yet, according to a report in the Guardian, the newspaper that aggressively pursued Murdoch over phone hacking, the media mogul and his son James may face questioning under caution by U.K. police now the trial has concluded.
News Corp declined to comment on the report when contacted by CNBC.
If Murdoch is questioned, what could be key to mounting a case against him is the not guilty verdict for Stuart Kuttner, former managing editor of the News of the World. If, as the verdict implies, News Corp executives further level down the ladder from Brooks did not know about phone hacking and other nefarious practices, it will be much more difficult to make a case that the company's New York-based founder should have known.