10/08/2014 01:55 EDT | Updated 12/08/2014 05:59 EST

Pierre Karl Péladeau to put Quebecor shares in blind trust if named PQ leader

Pierre Karl Péladeau said Wednesday that he has changed his mind about holding onto his Quebecor shares if he were to be elected as the Parti Québécois leader, and would put the shares in a blind trust if he were chosen as party leader.

However, he also said he hasn't decided whether to run for the party's leadership.

Last week, fellow PQ member of the National Assembly Jean-François Lisée said Péladeau needed to choose between being a media mogul and a politician.

Péladeau shot that idea down, saying he would not dump his majority shares in media corporation Quebecor. 

Quebecor was founded by his late father, Pierre.

Coalition Avenir Québec turned up the heat Tuesday by tabling a motion that seeks to prevent a politician from having a controlling interest in a media company.

Péladeau made a short statement on Wednesday reversing his previous statement. He said he would put his shares in a blind trust if and when he was named the new leader of the PQ.

The PQ's new leader will be named in May 2015.