The neverending News Corp phone hacking scandal continues to chip away at the Murdoch family's prestige. James Murdoch—son of Rupert and onetime heir to the company throne—is stepping down as the head of News International, News Corp's UK publishing arm. He'll be, ah, setting up shop here in New York in order to "Focus on expanding international TV businesses," according to the company.
Good! We expect to see you around, James.