Goodbye News of World!

You will not be missed, you disgusting rag!

16.39 BREAKING NEWS: James Murdoch has apparently said that this Sunday’s News of the World will be the last edition ever. More to follow in a moment

News International has refused to comment on rumours that The Sun could now become a seven-day-a-week operation.

Every silver-lining…

Guido notes that was registered two days ago.

Alan A adds:

The Guardian reports:

Andy Coulson has been told by police that he will be arrested on Friday morning over suspicions that he knew about, or had direct involvement in, the hacking of mobile phones during his editorship of the News of the World.

The Guardian understands that a second arrest is also to be made in the next few days of a former senior journalist at the paper.

At this moment, David Cameron is hosting the Sun’s Police Bravery Awards.

You don’t need to be Mystic Meg to predict that there are going to be a number of arrests, and charges. These are only the first. They will quite possibly involve police officers.

This is the Lehman Brothers of British journalism. Systemic contagion will spread to other papers, which are also likely to be the subject of questions, then scrutiny, and then perhaps further charges. Questions will be asked about practices of other newspapers in other countries.

Journalism, not the best regarded profession, is suffering a catastrophic breakdown of public trust.

And that’s before we even get on to the police officers.