James Murdoch Turns Down News Corp. Bonus

James Murdoch, caught in the phone-hacking scandal at News Corp.'s British paper News of the World, has turned down the bonus he was awarded by the company.

The son of company CEO Rupert Murdoch has been called back to testify in front of members of Parliament, who want more information from the Murdoch's after some of their earlier statements were called into question by former employees and newly discovered documents.

James Murdoch had been considered to be the family member most likely to succeed Rupert Murdoch in running News Corp., but his proximity to the scandal has called that into question.

In a statement released Friday, James Murdoch said he's declining the bonus because "while the financial and operating performance metrics on which the bonus decision was based are not associated with this matter, I feel that declining the bonus is the right thing to do."

He added that he will consult with the Compensation Committee in the future about whether any bonus may be appropriate at a later date.

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Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.