James Murdoch Resigns From News Corp.

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.