Why did you close the News of the World rather than tough it out?
"When the Milly Dowler situation was first given huge publicity...it made people all over the country aware of it," replied Rupert Murdoch.
"You could feel the blast coming through the window.
"I panicked, but I'm glad I did.
"I'm sorry I didn't close it years before and put a Sun on Sunday in."
News International bosses fell victim to a "cover-up" over the hacking scandal, Rupert Murdoch told the Leveson Inquiry today.
Today's Leveson hearings focus on the relationship between David Cameron and Rupert Murdoch and the media boss' role in the hacking scandal.
Rupert Murdoch will answer questions on the phone-hacking scandal at the Leveson Inquiry today.