Rupert Murdoch has quit the boards of his once beloved British newspaper business, paving the way for the tycoon's News Corp empire to be split in two.
The media giant confirmed in June that Murdoch would head up the broadcasting and entertainment division created from the breakup of News Corp.
For Murdoch, it's a significant shift away from News Corp-owned News International - the publisher of titles that include The Sun, The Times and once-upon-a-time the Sunday tabloid News of the World.
The NotW was at the centre of the storm surrounding phone-hacking allegations brought against Murdoch's company, which forced the Sunday redtop's closure in July 2011.
One year on, and the billionaire biz baron has finally abandoned his British newspapers and various subsidiaries just as eleven journalists - previously cuffed on suspicion of hacking into phones - are due to answer police bail tomorrow.
News Corp characterised Murdoch's exit from News International as being "nothing more than a corporate housecleaning exercise", according to the Financial Times.
Murdoch does, however, remain as chairman of NI. ®