News Corp. stock trades higher after Murdoch announcement
After investors learned this morning that James Murdoch was stepping down as leader of the News International division, shares of the corporate parent rose. Shares of British Sky Broadcasting traded down sharply today on the London Stock Exchange. News Corp. owns a significant stake in BSkyB, and James Murdoch is the chairman and non-executive director. German broadcaster Sky Deutschland, which is also partly owned by News Corp., traded slightly higher.