The forces at work have succeeded (at least temporarily) in burying this story -- or at least this arm of it. Here's the story as it appears in the NY TImes:

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Mr. Entwistle’s sudden departure as the BBC’s chief executive was prompted by outrage over a report last week on “Newsnight,” one of the network’s flagship current affairs programs, that wrongly implicated a former Conservative Party politician in a pedophile scandal involving a children’s home in Wales.

Mr. Entwistle said the report, broadcast on Nov. 2, reflected “unacceptable journalistic standards” and never should have been broadcast.

[...]

On Thursday, The Guardian identified the politician as Alistair McAlpine, a former Conservative Party treasurer, and said that he was the victim of mistaken identity.

Mr. McAlpine, now 70 and in poor health, said Friday that the allegations against him were “wholly false and defamatory” and warned that he planned to sue. Then the man who had made the abuse allegation, Steve Messham, said he had now seen a photo of Mr. McAlpine and was sure that he was not the man who had abused him when he was a child.

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full story link: http://www.nytimes.com/2012/11/11/world/europe/george-entwistle-resigns-as-head-of-bbc.html