1. OUT

    Murdoch Son Quits News Corp. Post

    (FILES) This file picture taken on July 13, 2011 show News International Chairman and Chief Executive and BSkyB Chairman James Murdoch arriving for work in east London. British pay-TV giant BSkyB said on July 29, 2011 that James Murdoch will remain chairman despite the phone-hacking row at main shareholder News Corp., as the broadcaster revealed a 23-percent jump in profits. The firm also announced a £750-million ($1.2-billion, 854-million-euro) share buyback and hiked its shareholder dividend to calm the waters after the scandal forced Rupert Murdoch's News Corp. this month to scrap a takeover bid for BSkyB.  AFP PHOTO / Warren Allott (Photo credit should read Warren Allott/AFP/Getty Images)

    Warren Allott, AFP / Getty Images

    James Murdoch is giving up his position as executive chairman at News International, the newspaper arm of father Rupert’s media empire. A statement from the company said that Murdoch “relinquished his position” but “will continue to assume a variety of essential corporate leadership mandates, with particular focus on important pay-TV businesses and broader international operations.” News International’s current chief executive will stay on. The latest investigations into wrongdoings at News International involve allegations of a rampant culture of illegal bribery payments.

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