News Corp plunges on BSkyB deal fears

Rupert Murdoch's son remains chairman of British Sky Broadcasting despite questions about his handling of the phone-hacking scandal.James Murdoch cleared the first hurdle in his bid to hold onto power in his father Rupert's company, News Corp., when he was retained as head of Britain's largest pay-TV provider despite questions about his handling of the phone-hacking scandal that has engulfed the media empire.

The latest casualty of News Corp.'s phone hacking scandal is the company's deal to acquire all of British Sky Broadcasting Group. The decision to drop the BSkyB bid raises questions about whether the media empire owned by Rupert Murdoch has the management team and the strategy to create value at the company.

Bid for Virgin Media expected in day

A British regulator criticizes James Murdoch, former head of satellite TV network British Sky Broadcasting, for his response to the phone-hacking scandal.LONDON — British Sky Broadcasting, the satellite TV network partially owned by Rupert Murdoch, remains a "fit and proper" holder of a broadcast license despite the phone-hacking scandal that has engulfed Murdoch's media empire, according to Britain's communications watchdog.