RENEE MONTAGNE, HOST:
NPR's business news starts with a Murdoch stepping down.
The son of media baron Rupert Murdoch is leaving his job as executive chairman of News Corp.'s newspaper arm, the company announced today. You'll recall that News Corp. has been embroiled in a scandal over phone and email hacking in Britain. James Murdoch, who is 39, will remain a high-ranking officer at NewsCorp and, the company said, will focus on the international TV business. Transcript provided by NPR, Copyright NPR.