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168 year old newspaper closes down due to controversy

News Corp. closes down tabloid News of the World
By Entrepreneur Staff |

One of the world’s longest running newspapers, and even considered to be one of the largely circulated ones, announced that News of the World will be releasing its last and final issue this Sunday, July 10. The News Corporation weekend tabloid, News of the World, will cease operations after it hit its biggest controversy to date – the alleged wiretapping, and bribery.

 

It is speculated the decision was made to protect the reputation of parent company, News Corporation, currently in negotiations to buy 60 percent of broadcasting company BSkyB for £8 billion.  

 

James Murdoch, Deputy Chief Operating Officer, News Corporation, and Chairman, News International announced the closure of News of the World on its website this morning. Below is his official statement:

I have important things to say about the News of the World and the steps we are taking to address the very serious problems that have occurred.

It is only right that you as colleagues at News International are first to hear what I have to say and that you hear it directly from me.

You do not need to be told that the News of the World is 168 years old. That it is read by more people than any other English language newspaper. That it has enjoyed support from Britain\\\'s largest advertisers. And that it has a proud history of fighting crime, exposing wrong-doing and regularly setting the news agenda for the nation.

When I tell people why I am proud to be part of News Corporation, I say that our commitment to journalism and a free press is one of the things that sets us apart. Your work is a credit to this.

The good things the News of the World does, however, have been sullied by behaviour that was wrong. Indeed, if recent allegations are true, it was inhuman and has no place in our Company.

The News of the World is in the business of holding others to account. But it failed when it came to itself. (Click here for the complete statement)

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