BSkyB Chairman James Murdoch to step down

By on Apr, 3 2012 with Comments 0

News CorporationNews Corp. Deputy COO James Murdoch is stepping down as chairman of U.K. pay-TV giant British Sky Broadcasting Group, the latest fallout from a scandal over voicemail interception and alleged police bribery at News Corp.’s British newspapers.

Murdoch, 39, will cede the chairmanship to nonexecutive director Nicholas Ferguson with immediate effect but plans to remain on the broadcaster’s board as a nonexecutive director, WSJ said. News Corp. owns 39.1% of BSkyB.

“We are grateful for James Murdoch’s successful leadership of BSkyB. He has played a major role in propelling the company into the market-leading position it enjoys today— and in the process has been instrumental in creating substantial value for News Corporation shareholders,” said Rupert Murdoch, chairman and CEO of News Corp. and Chase Carey, president and COO, in a prepared statement released 4/3. They added, “We look forward to BSkyB’s continued growth under the leadership of Nicholas Ferguson and Jeremy Darroch and to James’ continued substantial contributions at News Corporation.”

The fallout from the scandal has brought the closure of the company’s 168-year-old News of the World tabloid, three criminal investigations in Britain, the resignation of top executives and the collapse of News Corp.’s multibillion-dollar bid to take full control of BSkyB. James joined News Corp. in late 2007 to oversee the media conglomerate’s Europe and Asia operations, including the British newspaper unit. Before joining News Corp., he served as BSkyB CEO since 2003.

About The Author: Carl has been with RBR-TVBR since 1997 and is currently Managing Director/Senior Editor. Residing in Northern Virginia, he covers the business of broadcasting, advertising, programming, new media and engineering. He’s also done a great deal of interviews for the company and handles our ever-growing stable of bylined columnists.

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