
[Updated at 12:00 p.m.] The scandal-hit British tabloid News of the World will shut down after Sunday's issue, its owner, News International, told CNN Thursday.
All revenue for Sunday's final edition of the scandal-hit tabloid the News of the World will go to good causes, News Corp. executive James Murdoch said Thursday in announcing the closure of the 168-year-old newspaper.
Journalists at News of the World, a tabloid that is the world's top-selling English-language newspaper, have been accused of hacking into the mobile phone account of missing British teenager Milly Dowler, intercepting messages in search of news.
They then allegedly deleted messages to keep her mailbox from filling up, giving her family and friends false hope that the schoolgirl - later found murdered - was still alive.
Police also are investigating suggestions the paper - known for its exposes of celebrities and politicians - may have targeted the relatives of other high profile crime victims, including at least one of those killed in the 2005 London bombings.
The news comes after the officer leading the investigation said they have identified nearly 4,000 potential victims of illegal eavesdropping by a private investigator working for the tabloid.
The illegal eavesdropping by Britain's scandal-hit News of the World tabloid "sullied" the newspaper and "has no place in our company," News International chairman James Murdoch said Thursday.
FULL STORY

don't be fooled, it may be closing down but it's guaranteed to be immediately replaced by another one. It's only a matter of whether it will be owned by Murdoch or not.
I agree. His yellow journalism is rampant and his millions will allow him (and his minions) to operate in many underhanded ways forever.
The news comes after the officer leading the investigation said they have identified nearly 4,000 potential victims of illegal eavesdropping by a private investigator working for the tabloid.
This is all Bush fault.
No, it is the half breed socialist muslim atheist grandma killing foreign born pink commie that the tea party created in theri sick and misguided minds. Minds that should be blown out of skulls by gun powder.
Rupert Murdoch is neck deep in it. US govt. should investigate if his evil empire deployed the same tactics on US soil. It's hard to believe this thug acted differently here in US. The US govt. can do all of us a favor by subjecting Rupert Murdoch to water boarding to get the truth out of him. His naturalized citizenship can also be revoked and extradited to UK to face criminal charges.
I heard a federal employee got a DUI yesterday. Obama should be thrown in jail for it.
If these reporters worked for CNN, ABC, or any other news organization, do you think coverage of the story would even mention the owner of the company?
Now if he'd only shut down Fox News.
One day... we can only hope. But then there will be a bunch of brain dead town idiots wandering the streets not knowing what to do with themselves.
Then there'd be no news....
Murdoch spends millions on Republicans. They'll keep him in business because his media outlets keep THEM in business.
Phone hacking is just a lame excuse for shutting down another unprofitable newspaper.
Um..."the world's top-selling English-language newspaper" kinda implies that it sold enough to be profitable. RTFA before you go on a rant.
Too bad Murdoch does not shut down that rage he calls the Foxs News Channel too
Sghut-down FOX as well, this idiot is no human.
"shut"
Good riddance. Could you take Fox News with you? I noticed that there is no mention of this on their website.
I'll await you're apology for not telling the truth there.
http://www.foxnews.com/world/2011/07/07/news-world-to-publish-last-issue-sunday-following-scandal/?test=latestnews
Don't hold your breath. When I looked 30 minutes ago there was nothing there.
Now if Faux News would shut down...more scandal to come?
Good, happy for England. Now, for American do the right thing Murdoch and shut down your comedy network – Faux News!
Rupert Murdoch is the antichrist and must be destroyed.
So this is how all news channels operate now no wonder how fast they get all this information. Wow talk about a free world we are more prisoners than we are free
Why is it any suprise that this man's true colors are finally coming out? He owns Fox News. We have put up with this man's lies and b.s. as manifested in his Flagship US media company FOX NEWS for years now. When are we going to investigate the truth to behind "fair and balanced" news?
Murdoch is slime. This is the tip of the iceburg. This rag will be back in some form or another.