Breaking news today from News Corp. (NYSE:NWSA), James Murdoch executive chairman of News International is stepping down from his position.This report is coming from the Associated Press. No news as to the reason behind the resignation but it could have something to do with the phone hacking scandal that involved employees of the British tabloid News of the World, a publication News International managed.No other formal statements have been made by News Corp but the Financial News Network will keep track of this story as it develops. Currently News Corp. is trading up almost a percent in pre-market trading, but that could change once the market opens.