Murdoch Quits News Corp Subsidiary Boards

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A corporate² statement said Murdoch stepped down as director of NI Group (formerly News International), Times Newspaper Holdings and News Corporation Investments. It linked the move to a recent announcement that the $53 billion media empire would separate its publishing and its media and entertainment businesses into two publicly traded companies.

Speculation³ has intensified⁴ in the last year that News Corporation could seek to sell its embattled British newspapers, in response to a phone hacking⁵ operation allegedly approved by senior editors at the now-defunct News of the World tabloid⁶.

The scandal severely⁷ damaged Murdoch's reputation in Britain and prompted a parliamentary committee earlier this year to describe the tycoon⁸, 81, as unfit to run a major company.

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