Rupert Murdoch Abruptly Shuts Down Newspaper, Tries to Save Deal

Rupert Murdoch’s "News of the World" is the most sold newspaper in Britain, but it was announced yesterday that the media mogul would shut down the paper as of this weekend in response to a number of scandals that have been threatening the publication. Among the allegations the paper faced were those that journalists hacked the voicemails of thousands of people, the result of which has been massively decreased advertising revenue and a threat to Murdoch’s attempts to purchase BSkyB, a broadcasting company.

In a statement read by James Murdoch, Rupert’s son and the chairman of the British newspaper arm of News Corp, the company announced, "News International today announces that this Sunday, 10 July 2011, will be the last issue of the News of the World." The paper, which is 168 years old, will donate the profits from its final edition to charity. Noted Jules Stenson, the features editor of the paper, "No one had any inkling that this was going to happen."

In what has been described as a "nuclear option" for Murdoch as he attempts his purchase of BSkyB, the media titan will be closing down a publication with a very rich and long history. James Murdoch also noted in his statement, "The good things the News of the World does have been sullied by behavior 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 game to itself."