As News Corp. faces fresh allegations that phone hacking was more widespread than previously thought at News of the World, Rupert Murdoch's embattled "red top" tabloid has published its last issue, the production of which was played out over its Twitter feed.

Murdoch is fighting to defend his management team and keep institutional investors such as the Church of England from withdrawing support that would hinder his other titles, not to mention his BSkyB deal. The newspaper's former editor, Andy Coulson, was arrested Friday, as attention turns to News Corp. exec Les Hinton, Murdoch's "lifelong lieutenant and closest advisor," as the Guardian puts it.

Click below to see NotW's final cover, featuring its more provocative exclusives over the years, and check out its website and this video to see the newspaper's own tribute to its 168-year history.Continue reading...

In shocking news today, Rupert Murdoch is folding The News of the World — the 168-year-old newspaper with the highest circulation of any newspaper, anywhere.

The British tabloid is at the center of a phone-hacking controversy that was broken by rival newspaper The Guardian, a scandal that has rocked the UK, been hotly debated in the British parliament, besmirched the Murdoch family name — son James delivered the news, via the company's Sky News channel — and challenged the integrity at the heart of Murdoch's farflung News Corp. media empire.

"Recent allegations of phone hacking and making payments to police with respect to the News of the World are deplorable and unacceptable," stated Murdoch in a statement published on the newspaper's online homepage, above. "We are committed to addressing these issues fully and have taken a number of important steps to prevent them from happening again."

The upcomimg Sunday edition of News of the World will be its last, with proceeds from the edition's sales going to charity as the company shifts into crisis mode to address charges that the so-called "red top" authorized hacking into mobile phones, including not only celebrities such as Hugh Grant, but those of murdered schoolgirl Milly Dowler and families of 7/7 bombing victims.Continue reading...

Apple, hot on the heels of iPad 2 launch, tops Fortune's Most Admired Companies list for fourth year in a row.

Best Buy and other big box retailers rethink as they shrink.

Budweiser posts first global increase in two decades thanks to World Cup.

Charlie Sheen hits 1 million Twitter followers in less than a day.

Facebook growth slows in the US.

Ford issues recall, plans to harness its design gurus to relaunch the Mustang.

GM leads incentive spending as "Old GM" expected to be liquidated today.Continue reading...

Apple's iPad 2 smart cover also comes in (RED).

BSkyB/News Corp. deal is set to close next week.

Cablevision brings on demand cable TV programming to the iPad.

Charlie Sheen's Twitter intro was fast-tracked with Ad.ly.

Discovery Channel introduces free iPad app.

Ford recalls an additional 35,000 vehicles in North America.

Lady Gaga previews new song as walks the runway for Mugler, invites fans to apply to blog for Virgin Mobile.

Morgan Spurlock's EMC-sponsored TED talk sells out.

PayPal and MasterCard reinstate payments to WikiLeaks — this time for Julian Assange's legal defense fund.

Whole Foods launches baby photo contest on Facebook.

Allstate sues Citi, Deutsche Bank over mortgages.

BP execs feel oil spill victims are receiving too much.

BSkyB and MTV protest British House of Lords move to limit commercial time.

Facebook's new status options applauded by gay community.

IBM claims in suit it was overbilled by Ogilvy. 

US military sponsorship of NASCAR challenged.

Toyota's new campaign introduces "#1 for a Reason" tagline.

Apple attacked by Calpers for the way it handles board elections.

Amazon tops charts of online retailers in UK for customer satisfaction.

American Express returns to the NBA.

Bank of America confirmed as WikiLeaks target, as banks deal with bad press over alleged foreclosure break-ins.

CarMax profits rise on stronger wholesale auto sales.

Dollar Tree and other dollar chains shine this holiday season.Continue reading...

TD Bank acquires Chrysler Financial for $6.3 billion.

News Corp.'s bid for BSkyB cleared by EU.

Apple plans exposed by insider trading suit.

Bank of America and other Wall Street firms face increased scrutiny on executive pay.

Betty White voted entertainer of the year by AP.

Brett Favre retirement leaves muddles NFL legacy.

CBS is looking to renegotiate Katie Couric's contract.Continue reading...

The Republican Party won big in Tuesday’s elections, capturing a majority in the U.S. House of Representatives, neutralizing the Democratic Party in the U.S. Senate, seizing a handful of key governorships and state legislatures across the country and marking the ascendancy of the Tea Party. Among other industries, the shift has big implications for the branding and marketing community. 

AOL revenue drops 26% on slumping ad sales.

Apple's iPad dominated 95% of the market for tablet computers last quarter.

Bugatti launches Veyron model in India, priced at $3.6 million.

Chase partners with DreamWorks for Megamind 3D movie.

Discovery Communications notches huge gains in ad sales.Continue reading...