Phone Hacking Probe: Ex-News Of The World Editor Coulson Arrested And Site Soon To Be Shutdown

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Mr. Cameron quickly distanced himself from a crisis knocking at the door of 10 Downing St., acknowledging that British politicians and the press had become too cozy and promising investigations into both the activities at the tabloid and into future media regulation

According to guardian.co.uk "We know there are police inquiries going on into the News of the World and anybody who removed records now would be personally liable. It would be perverting the course of justice and a crime. I don't think liquidation will make any difference [to the firms records].
The scandal has led to calls for the resignation of Ms. Brooks, the chief executive of the company's U.K. newspaper unit, News International, who was News of the World's editor until 2003, during the time of the alleged hacking of the murdered girl's phone. Ms. Brooks, who since has become one of the top lieutenants at News Corp.'s UK newspaper unit, has so far received the backing of News Corp. Chief Executive Rupert Murdoch and his son

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