James Murdoch to Quit

Eddie Keogh, Reuters / Landov

Rupert Murdoch and son James Murdoch at the Cheltenham Festival horse racing meet in Gloucestershire, England on March 18, 2010.

News Corp.’s Sky News reported on Tuesday that James Murdoch will step down as BSkyB chairman due to his role in the hacking scandal. BBC reported it was James Murdoch’s own decision to step down as the investigation into his own role in the phone-hacking scandal has grown. A spokesman for BSkyB declined to comment on the report. News Corp. owns 39 percent of BSkyB, but News Corp. was forced to drop its $12 billion bid to take over the whole of BSkyB in the wake of the hacking scandal.