Mur­doch son steps down from Bri­tish news­pa­pers

The Washington Times Daily - - Business -

LONDON | James Mur­doch, the ex­ec­u­tive at the epi­cen­ter of the phone­hack­ing scan­dal at his fa­ther’s Bri­tish news­pa­pers, is step­ping down as ex­ec­u­tive chair­man of News Corp.’s U.K. news­pa­per arm.

News Corp. said in a state­ment Wed­nes­day that James Mur­doch, the youngest son of 80-year-old me­dia mogul Ru­pert Mur­doch, has re­lin­quished his po­si­tion at News In­ter­na­tional to con­cen­trate on ex­pand­ing the com­pany’s tele­vi­sion busi­ness.

James Mur­doch, 39, will re­main deputy chief op­er­at­ing of­fi­cer of News Corp., but the move plucks the one­time heir ap­par­ent to his fa­ther’s global em­pire away from a firestorm about his cred­i­bil­ity and his role in Bri­tain’s ex­pand­ing phone-hack­ing scan­dal.

News Corp. shares set a 52-week high in New York af­ter the news broke, ris­ing 1.6 per­cent to $20.11 a share.

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