Murdoch: 'I panicked but I'm glad I closed NotW'

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."

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Murdoch: phone hack 'cover up'

Rupert Murdoch has blamed a cover up at the News of the World for his failure to act earlier. According to Mr Murdoch, a lawyer at the paper concealed the extent of phone hacking.