Murdoch loosens grip on News Corp.


With his global media corporation getting ready to split into print and broadcast divisions, Rupert Murdoch is stepping down from the chair of UK print operations, as well as from some of the company’s US holdings.

The companies involved in the US portion of the move were not revealed, nor have they as yet been filed with the Securities and Exchange Commission.

The Unitied Kingdom print properties of News Corp. have been embroiled in the infamous cell phone hacking scandal, but the company said that had nothing to do with the move.

They said it was a simple housekeeping maneuver in advance of splitting the company into print and broadcast divisions.