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16:03

Phone hacking and News of the World: Rupert Murdoch has taken risks too far

Guardian :: The advertiser boycott of the News of the World grew and grew recently. It wasn't a question of who would be pulling their ads any longer, more of whether anybody would dare to take space. 

[Peter Preston:] Didn't Rupert (Murdoch) traditionally ring up the News of the World editor every Saturday afternoon and ask "What have you got"? Did he never go on to inquire where it came from, then? How could Rebekah Brooks, NOTW chief executive have been unaware of her whole show going off the rails?

There is a risk that the destruction of the News of the World in a mushroom cloud of contrition, doesn't work for the Rupert Murdoch's news empire. Will it ease the pressure and let News Corp get back to making pots of money from movies and television? That's what an increasingly restive board in New York, flanked by an even more restive array of corporate shareholders, will be hoping. But it's very hard to see that happening. 

Continue to read Peter Preston, www.guardian.co.uk

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