LOS ANGELES, California (X17online) - James Murdoch announced on Tuesday he will step down as chairman of the satellite TV network BSkyB.

The news of his resignation comes almost a week after his father, NewsCorp chairman and CEO Rupert Murdoch, went on the offensive to debunk phone-hacking and piracy allegations.

"I have been privileged to serve first as chief executive and then as chairman of this outstanding company, and I am proud of what we have achieved over this period," Murdoch said Tuesday. "As attention continues to be paid to past events at News International, I am determined that the interests of BSkyB should not be undermined by matters outside the scope of this company."

Murdoch will remain as a non-executive on the company's board while BSkyB's deputy chairman Nicholas Ferguson will take over as chairman.