James Murdoch Steps Down As Executive Chairman of News International

Newsblog is reporting that James Murdoch will step down as Executive Chairman of News International. Murdoch plans to give all his energy to News Corp, which is expanding international television business. 

James Murdoch, son of Rupert Murdoch has been under loads of pressure since last summer following a phone-hacking scandal.

Tom Mockridge, chief executive of News international will continue in Murdoch's position and will still report to the President of News Corp, Chase Carey.

As for News Corp Chairman Rupert Murdoch, he made a statement early this morning saying he is still very sure that his son will continue to play a vital role at the company. 

"Now that he has moved to New York, James will continue to assume a variety of essential corporate leadership mandates, with particular focus on important pay-TV business and broader international operations."

Once seen as the heir to his father's News Corp along with a 39 percent stake in BskyB, James will only be limited with the company's U.S. Fox News television operation as he makes the transition to Manhattan. James' move away from News International also clarifies why he wasn't in London on Sunday to help launch the newest of his father's investments, Sun's Sunday Edition. 

Friends of the family say James Murdoch has been eager to drop his position and move onto his next phase. They also say that the phone-hacking scandal played a major role in his decision choice. Murdoch has faced numerous questions on what he knew about the scandal. Although the hacking is known to have gone until 2006, James presided over the company from 2009 and 2010 where News International denied the allegations. 

In December 2007, James Murdoch took the position of overseeing News International. He also joined News Corp and BskyB where he had been Chief Executive. At the same time, he also became Chief Executive of News Corp's European and Asian divisions, a position in which he is still responsible for today.  

Photo by erikso.