A contrite Murdoch takes out "We are sorry" newspaper ads

The News of the World hacking scandal continues to rock the News Corp empire of Rupert Murdoch.

He's had to close the newspaper, fire executives (with others resigning) and watch the future of his empire (the BSkyB satellite deal) go down in flames. The heir to the business, his son james may be tried in criminal court, and his company's stock has taken a beating in the stock market.

And now, Murdoch has had to publically apologize in full-page newspaper advertisements for what he calls "serious wrongdoing" by News Corporation and News of the World.

The ads appear in London's Daily Mail, Financial Times, Guardian, Daily Telegraph, Independent, Sun and Times. It must be a bitter pill that the newspaper mogul is apologizing within the pages of competitive newspapers.

 "We are sorry. The News of the World was in the business of holding others to account. It failed when it came to itself." says Murdoch in the ad.

There is a follow-on ad scheduled this weekend which will reportedly outline the steps that News International will take to try and win back the public's trust.

Source: HuffPo

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