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Transcript by http://www.newsy.com BY MEREDITH BALDWIN ANCHOR MEGAN MURPHY James Murdoch has stepped down from his Executive Chair role at News International. CBS has the details. "The confirmation came moments ago. James Murdoch's stepped down in order to focus on expanding international businesses. In short, he's stepping away from the head of British offices and moving to the U.S. Now, the announcement comes in the wake of 16 arrests in the ongoing hacking investigation." The Wall Street Journal says the much-reported criminal investigations into News International led the younger Murdoch to this decision. "The U.K. unit...is at the center of three criminal investigations over illegal reporting tactics at its newspapers, including the now closed tabloid the News of the World and its sister paper, the Sun. A key issue in the public drama surrounding the scandal has been Mr. Murdoch's handling of the affair and when he learned about the extent of wrongdoing." Murdoch has long been the heir-apparent to News International's parent company, News Corp — currently headed up by James' father, Rupert Murdoch. But an analyst on CNBC says — that may no longer be the case. "This is just a further sign of his diminishing role within the company. If his name were anything other than Murdoch, he wouldn't even be working there anymore." But The Huffington Post notes — James Murdoch isn't even close to being out at News Corp. "James...has relinquished his position at News International to focus on the company's international TV business. He will remain deputy chief operating officer of News Corp." As for the investigation into the News International scandal, The New York Times reports on Monday, a police officer told a judicial inquiry ... " ... the daily Sun had systematically paid large sums of money to 'a network of corrupted officials' in the British police, military and government... [Specifically] The Sun had illegally paid the unidentified officials hundreds of thousands of dollars in exchange for news tips and 'salacious gossip.' She said the payments had been authorized 'at a very senior level within the newspaper.'" News International Chief Executive Tom Mockridge will continue overseeing the company.