By Francesca James

Recent allegations of phone hacking and making payments to police with respect to the News of the World came to a shock conclusion today.

News International today announced that this Sunday, 10 July 2011, will be the last issue of the paper, the News of the World.

The NOTW website quotes James Murdoch, Deputy Chief Operating Officer of News Corporation as saying the following when breaking the news to its employees:

'I have important things to say about the News of the World and the steps we are taking to address the very serious problems that have occurred.

It is only right that you as colleagues at News International are first to hear what I have to say and that you hear it directly from me. So thank you very much for coming here and listening.'

He continued to say that:

'When I tell people why I am proud to be part of News Corporation, I say that our commitment to journalism and a free press is one of the things that sets us apart. Your work is a credit to this.

The good things the News of the World does, however, have been sullied by behaviour that was wrong. Indeed, if recent allegations are true, it was inhuman and has no place in our Company.'

The news of the world is its 168th year and is the most widely read English language newspaper, James Murdoch admitted that 'The News of the World is in the business of holding others to account. But it failed when it came to itself.'