and the next step occurs, it's only the UK, not his Worldwide organisation, but it's on the way.
Rupert Murdoch has resigned from a string of directorships controlling his News Corporation's UK newspapers.
Mr Murdoch, 81, quit directorships at NI Group Ltd, NewsCorp Investments and Times Newspaper Holdings on Friday.
News Corp plans to split into two firms, separating its newspaper and book publishing interests from its now dominant TV and film enterprises.
Mr Murdoch is expected to chair both businesses but to be chief executive only of the TV and film side.
Now this is only from his UK busineses. but its the next step on the gradual discintigration of the Murdoch business empire. Why Now? well we have the final statements of lawyers this week from the Leveson Inquiry, before the Learned judge disappears to construct his report on all of the evidence that he has heard. Now that that is open, the next few weeks will be a spiral of problems as more and more court appearances and charges occur.
Distancing Rupert from the UK business is an attempt to put a tourniquet on the bleeding stump that is his UK business and attempt to stop it infecting his other national brands. This seems to be a business act of desperation. The other option is that he maybe has a buyer lined up, but that seems unlikely when the price in the next few weeks can only go down.
More news as it turns up. Brit has a Daily Beast piece due out in a while and I will add it on as soon as I see it.
UPDATE: There are some US board resignations by him too, but no details as to what yet
Companies House filings show that Mr Murdoch stepped down from the boards of the NI Group, Times Newspaper Holdings and News Corp Investments in the UK last week. He also quit a number of News Corp’s US boards, the details of which have yet to be disclosed by the US Securities and Exchange Commission.
News Corporation played down the significance of the resignations as “nothing more than a corporate housecleaning exercise prior to the company split”.
Bluestatereadhed points out the following quote from the Guardian
update x2 Brit's article
In an email sent on Saturday, staff atThe Times, TheSunday Times andThe Sun were told that Murdoch remained "fully committed" as chairman despite relinquishing positions on a number of UK boards, including NI Group.
The move is in line with plans to restructure his News Corporation empire, the message read. Murdoch has already outlined plans to split the group into two.
Under the proposals, a largely US-based media empire consisting of Fox TV, the20th Century Fox film studio and other entertainment assets, will be separated from the publishing businesses, including TheWall Street Journal, alongside Murdoch's UK and Australian newspapers and HarperCollins book publishing.
The media mogul plans to remain the chairman of both businesses although Chase Carey, chief operating officer at News Corp, will be elevated to the number two spot at the entertainment business.
In a move that could bring to an end Rupert Murdoch’s 30-year dominance of the British press,the 81-year-old media mogul has resigned as director of The Sun, The Times, and The Sunday Times, and stepped down from the board of the News International Group, Times Newspaper Holdings and News Corp. investments in the U.K.