In a not-terribly-surprising turn of events, it was announced today that James Murdoch would be stepping down from his duties at News International, while retaining his duties with Newscorp, overseeing International Pay-TV operations and maintaining his Chair position at BSkyB.

This news follows word that Rupert Murdoch returned to the UK to run operations that included the launch of the Sunday edition of The Sun.

Amid speculation that James has now been banished from the Murdoch empire and that Rupert, upset over James insistence to shut News Of The World, got back in the drivers seat and assumed control thus making James no longer heir apparent to the Empire.

Of course, no one is out of the woods yet. There is still the looming investigation of phone hacking and bribery extending over to these shores, which has yet to become an actual case. Meanwhile, there are still some 6,000 (yes, six THOUSAND) outstanding phone hacking cases pending, which should keep everyone busy for the foreseeable future.

Here are two reports - the first from BBC Radio 4's PM Program and the second via The Six O'Clock News.

As they say, stay tuned.

Todays latest on the saga of Murdoch comes minus radio reports, as the BBC is currently on strike in their news divisions and the regularly scheduled information programs are replaced by bare-bones minimum news headlines.

But suffice to say it's been an interesting Monday, leading in from the weekend, where BkyB reportedly gave a vote of confidence to James Murdoch and the go ahead to stay as head of the unit (for now). That said, there have been reports the past several days, and surfacing again today that a movement is afoot by disgruntled shareholders in Newscorp that Rupert Murdoch should be unseated and relinquish his power-grip on the empire. A civil suit has been filed by shareholders. This is all based on gathered evidence that suggests Newscorp did in fact hack the phones of 9/11 victims Stateside, although the Attorney General has yet to issue a report on any findings. The storm clouds are more than gathering on this side of the Atlantic.

Meanwhile, back in the UK - It was reported to The Guardian today that Tech firm HCL has uncovered evidence it was aware of thousands of deleted e-mails from News International between April 2010 and July 2011. Although HCL adds it was not directly responsible for the mass deletion, but said an as-yet unnamed vendor was responsible and that HCL merely cooperated with the vendor with deletions. All registering surprise, please raise you hands. Yeah, I thought so.

It just continues to get more interesting as the hours and days past.

Of course, my immediate question, with regards to our Stateside investigations, is how much mass deletion has taken place over here, particularly since the UK story broke and all attention was was directed to the goings on in London? Certainly several weeks/months of heads-up could wipe out an immense amount of damaging information.

Hopefully the strike will be over soon at the BBC (two weeks ago it was a 24 hour walk out) and more light will be shed by tomorrow.

Until then. It doesn't even do any good to use your imagination, unless you have your feet firmly planted in the absurd.

Amid the breaking news this morning that Newscorp/News International/Rupert Murdoch are abandoning their takeover bid for BskyB, and with the growing firestorm surrounding the phone hacking scandal at the now-defunct News Of The World becoming something of a Perfect Storm, questions are now being raised if in fact Rupert Murdoch will survive this scandal and if he will abandon the UK as any place to continue his empire.

Bets are on he will, as he has done many times in the past. Whether his son James or his coveted, trusty assistant, confidant, whatever-she-is Rebekah Brooks will survive is another question. Odds are neither Rupert or James will be obliged to testify at the Home Affairs Select Committee Hearings, since neither are actual British Citizens (oh, that citizenship thing again), but Brooks will be since she is a British citizen, and it may make for very interesting theater on Tuesday (the day testimony is tentatively scheduled).

As of yesterday there were calls by Senate Commerce Committee Chairman Sen. Jay Rockefeller to begin hearings on Newscorps' possible violations here while stockholders in Delaware are making their discomfort known. It has also been mentioned by various sources there is a wave of gripping fear overtaking Fox News at the moment.

As was indicated last week when the bomb was dropped over the closing of News Of The World, the story is changing constantly and quickly. At the rate this is going, it may change again by Friday.

But for the moment, here is BBC Radio 4's PM Program with the latest as of this morning (afternoon in the UK).

Stay tuned.

Technical note: there is a portion of a 1989 interview with Murdoch missing. It was missing on the PM broadcast.