Media mogul Rupert Murdoch moved quickly to shut down one of his oldest media holdings -- a 168 year-old, best-selling weekly British tabloid newspaper called News of the World -- amid charges that the paper's journalists hacked into the telephones of Iraq and Afghanistan war veterans, murder victims and their families, and bribed police in exchange for information and tips. News of the World was Britain's best-selling Sunday newspaper. Its last issue will be this Sunday, and will not carry any commercial advertisements.
Murdoch dumped the paper at the same time his media empire, News Corp., is trying to win U.K. government approval to take over British Sky Broadcasting Group. News Corp bid US$12.5 billion for the British Sky Broadcasting, but the government has received more than 135,000 comments protesting the acquisition.