Scandal forces Murdoch to close News of the World

Well, not really, not now

News International announced on Thursday that it is closing the News of the World after this Sunday’s edition, with no end in sight to the political and commercial fallout from the phone-hacking scandal after 72 hours of mounting crisis.

Sunday’s edition of the paper will be the last, News International chairman James Murdoch told News of the World staff on Thursday afternoon.

Murdoch told employees at the 167-year-old title: “The News of the World is in the business of holding others to account. But it failed to when it came to itself”…

It is the first national newspaper to close since Rupert Murdoch shut News International mid-market tabloid Today in 1995.

The News of the World was Rupert Murdoch’s first UK newspaper acquisition in 1968 and its profits helped him build his publishing and broadcasting empire in this country and the US.

A spokesman for the company would not comment on whether News International will continue to publish a tabloid title on a Sunday. I imagine they will.

Murdoch told staff some of them would be leaving the company and said that was a matter of regret. He paid tribute to their “good work”.

There will be no adverts in Sunday’s edition and any money already received will be donated to good causes…

Labour MP Tom Watson, who has been highlighting the phone-hacking scandal at the paper for two years, said: “Rupert Murdoch did not close the News of the World. It is the revulsion of families up and down the land as to what they got up to. It was going to lose all its readers and it had no advertisers left. They had no choice.”

RTFA for the details. More and more of the truly dirty details are still coming out – which is an essential part of the decision by the Murdochs – Daddy Rupert and James – to bail before the tsunami crushes them altogether.