A special edition of The Media Show investigates the lasting impact of the end of the News of the World. Does the end of Britain's best selling newspaper signal the end for "red-top" investigative print journalism? Or is it just a staging post on the way to establishing a Sunday edition of that other top-selling News International title, The Sun?
And what does the closure mean for Mr Murdoch's plans to increase his share of the UK television market?
Steve Hewlett is joined by News of the World columnist Carole Malone, former Guardian editor Peter Preston, and former People editor Bill Hagerty to discuss the history and legacy of the News of the World.
Clare Enders of Enders Analysis and media relations expert Andrew Gowers are also in the studio to discuss the commercial implications and whether closing the paper can salvage News International's reputation.