Murdoch son steps down from British newspapers
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.