News Corp. says James Murdoch steps down as executive chairman of News International.
Rupert Murdoch’s son James Murdoch has stepped down as executive chairman of News International, the British newspaper subsidiary of News Corporation. He is a subject of police and judicial inquiries into phone hacking and illegal payments to the police.
His titles include Chairman and CEO of News Corporation Europe and Asia, Chairman of SKY Italia, Chairman of STAR TV, Non-Executive Chairman of British Sky Broadcasting, and Non-Executive Director of GlaxoSmithKline.
On November 23, 2011, British newspapers reported James Murdoch resigned as chairman of NGN, News Group Newspapers, the holding company of the Sun, News of the World and Times Newspapers Ltd. NGN is the subject of a series of lawsuits all related to the phone hacking scandal.
Employees of the News of the World newspaper were accused of engaging in phone hacking, police bribery, and exercising improper influence in the pursuit of publishing news stories. Investigations conducted from 2005–2007 concluded that the phone hacking activities were limited to celebrities, politicians and members of the British Royal Family. However, in July 2011, other phone hacking activities were discovered, involving the phones of murdered schoolgirl Milly Dowler, relatives of deceased British soldiers, and victims of the 7/7 London bombings. The revelation of extended phone hacking resulted in a public outcry against News Corporation and owner Rupert Murdoch. Advertisers boycotted the publication, and News of the World was shut down on July 10, 2011, ending 168 years of publication.
Well-known assets and subsidiaries of News Corporation include …
New York Post
Wall Street Journal
Big Ten Network (49%)
Fox Business Network
Fox College Sports
Fox Movie Channel
Fox News Channel
BSkyB [United Kingdom] (39.1%)
Sky Deutschland [Germany] (49.90%)
SKY Italia [Italy] (100%)
SKY Network Television [New Zealand] (43.65%)
Foxtel [Australia] (25%)
Star TV [India & Greater China] (100%)
Fox Interactive Media
and much more …