Murdoch stuns critics, shuts down scandal-hit paper
....close down the News of the World, Britain's biggest selling Sunday newspaper.
Who is John Galt?Yet no one, least of all the 168-year-old paper's staff, was prepared for the drama of a single sentence that will surely go down as one of the most startling turns in the 80-year-old Australian-born press baron's long and controversial career.
"News International today announces that this Sunday, 10 July 2011, will be the last issue of the News of the World," read the preamble to a statement from Murdoch's son James, who heads the British newspaper arm of News Corp....
It seems to me that this is a calculated move. To 'destroy' the paper, Rupert Murdoch seems to be sending a message that it is completely up to him to do so....."This Sunday will be the last issue of the News of the World ... In addition, I have decided that all of the News of the World's revenue this weekend will go to good causes.
"We will run no commercial advertisements this weekend."
Steven Barnett, professor of communications at Westminster University, said he was "gobsmacked":
"Talk about a nuclear option," he told Reuters.