News of the World -- the British tabloid engulfed in an extensive phone-hacking scandal -- will close Sunday after 168 years in operation, James Murdoch, chairman and CEO of News Corp. Europe and Asia, said on Thursday morning.
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The action is an extraordinary admission of the damage the tabloid has caused with allegations that journalists have hacked the phones of everyone from juvenile victims of terrorism to the royal family, as well as suspected corruption of the police.
When new accusations emerged Wednesday, the British government announced it would launch an inquiry and rumors spread that up to five journalists and executives would be arrested.
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The action is an extraordinary admission of the damage the tabloid has caused with allegations that journalists have hacked the phones of everyone from juvenile victims of terrorism to the royal family, as well as suspected corruption of the police.
When new accusations emerged Wednesday, the British government announced it would launch an inquiry and rumors spread that up to five journalists and executives would be arrested.
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