News of The World to Closes its doors after 168 years amidst Allegations

News International has announced that it is closing the News of the World - Sunday 10 July 2011 will be its last edition.

News of the World (NOTW) will be closing its doors for good, as the company continues to be bombarded by allegations of corruption, and phone hacking. The name of the organisation will die at least, but the some 200 employees are being encouraged to apply for new post.

News International spokeswoman Daisy Dunlop says employees laid off in the closure will be able to apply for other jobs within the media company. This follows a decision on July 7, to close the best-selling United Kingdom's tabloid newspaper, which because of its coverage, was also referred to as "News of the Screws". Accusations of allege improprieties had seen some advertisers, and readers pulling their support from the tabloid founded in 1843.

Major advertisers who distanced their brand from the newspaper included Ford, Lloyd's Bank, Renault, and Coca Cola amidst the public outcry of the allegations.

Accusations herald are that the News of the World illegally eavesdropped on the phone messages of murdered, and terrorist victims, politicians and celebrities, and claims it may have bribed police officers. Police said Thursday they had identified almost 4,000 potential targets of hacking.

Many top casualties are appearing in this "mess" as David Cameron, prime minister of Britain has been forced to come to the public to explain why he had hired former editor, Andy Coulson of the tabloid, after he had resigned under a cloud of accusations.

Also being implicated in accusations, is Chief Executive of News International, and former editor of Britain's News of the World newspaper, Rebekah Brooks.

If one is to believe where the "buck might stop" then reports are being made that James Murdoch, deputy chief operating officer of News Corp could be prosecuted under the Foreign Corrupt Practices Act (FCPA). James Murdoch is the son of Keith Rupert Murdoch, Chairman and CEO of News Corporation.