FINANCIAL TIMES: Rupert Murdoch has sacrificed the News of the World in a desperate attempt to cauterise a crisis at his $46bn global media empire, as his son admitted personal fault in handling the escalating phone hacking scandal at the British tabloid newspaper.
James Murdoch, News Corp’s deputy chief operating officer, said that the 168-year-old title would print its last issue this Sunday. His father’s 1969 purchase of the racy tabloid, which specialised in sex scandals and populist campaigns, launched the then-Australian press baron on the world stage.
As insiders described a mood of gathering alarm at News Corp, James Murdoch said that both the News of the World and News International, the UK newspaper arm for which he has been responsible since 2007, “failed to get to the bottom of repeated wrongdoing that occurred without conscience or legitimate purpose”… (more)
