Today News Corporation deputy COO James Murdoch announced that the company will shutter News of the World following an ongoing phone-tapping scandal. The 168-year-old UK newspaper has over two million subscribers.
Here’s more from his statement: “This Sunday will be the last issue of the News of the World. Colin Myler will edit the final edition of the paper. In addition, I have decided that all of the News of the World’s revenue this weekend will go to good causes. While we may never be able to make up for distress that has been caused, the right thing to do is for every penny of the circulation revenue we receive this weekend to go to organisations – many of whom are long-term friends and partners – that improve life in Britain and are devoted to treating others with dignity.”
Rupert Murdoch bought the famous tabloid in 1969 as he built his News Corp empire. If you want to read more about Murdoch’s time at the paper, we’ve linked to free samples of five books about his newspaper legacy.