London (CNN) -- The embattled British tabloid News of the World, one of the oldest and best-selling newspapers in Britain, will shut down after Sunday's issue, its owner, News International, told CNN Thursday.
The dramatic announcement follows accusations that the paper illegally eavesdropped on the phone messages of murder and terror victims, politicians and celebrities.
The scandal "sullied" the newspaper and "has no place in our company," News International Chairman James Murdoch said Thursday in announcing the shutdown.
And paying out-of-court settlements to some victims was "wrong and a matter of serious regret," Murdoch said. He is a son of media magnate Rupert Murdoch, the head of News Corp., which owns News International.
The paper's roughly 200 employees are now out of jobs, but are free to apply for other positions within News International, the company said.
The 168-year-old newspaper, which sells more than 2.5 million copies every Sunday, was brought down by an avalanche of public and political fury in the wake of revelations that the hacking victims included a missing 13-year-old girl who was later found to have been murdered.


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