James Murdoch steps down as chairman of BSkyB

http://twitter.com/#!/dansabbagh/status/187146232924352512

Problem for James Murdoch is that his News Corp responsibilities are seriously reduced without Sky chmnship. Sky Italia, Star TV and…?

— Dan Sabbagh (@dansabbagh) April 3, 2012

Here’s an excerpt from Australia News:

Mr Murdoch was expected make the announcement as he continues to grapple with the fallout from the UK tabloid phone hacking scandal.
His decision was made in BSkyB’s best interests, according to Sky News’ sources. It added he was expected to stay on as nonexecutive director.
BSkyB’s current deputy chairman Nicholas Ferguson was set to take Mr Murdoch’s place, Sky News added.

Sky shares down 2p on the day, not much doing there. Sky not dependent on the Murdochs; are the Murdochs dependant on Sky??

— Dan Sabbagh (@dansabbagh) April 3, 2012

James Murdoch: "I believe my resignation will help ensure that there's no false conflation with events at a separate organisation" #CNBC

— Louisa Bojesen (@louisabojesen) April 3, 2012

Of course, it wouldn’t be a story without the snark tagging along:

James Murdoch on the phone. Says he "couldn't hack it".

— Prince Charles (@Charles_HRH) April 3, 2012

What a difference a year makes… In April 2011 James Murdoch boasted News Corp had "put this problem into a box.” http://t.co/Z8zhQwCf

— Martin Hickman (@martin_hickman) April 3, 2012

Twitchy will continue to monitor the situation and update this post as needed.

Read more: http://twitchy.com/2012/04/03/james-murdoch-to-step-down-today/