The secret recording, broadcast this evening by Channel 4 News, hears Rupert Murdoch apparently railing at the the way the police behaved in arresting his journalists.
"Still, I mean, it's a disgrace. Here we are, two years later, and the cops are totally incompetent," he is heard saying, adding: "The idea that the cops then started coming after you, kick you out of bed, and your families, at six in the morning, is unbelievable."
He also is heard saying: "But why are the police behaving in this way? It's the biggest inquiry ever, over next to nothing."
Mr Murdoch is heard adding: "And now they're arresting their own, who never even took money... They're going to put all newspapers out of business."