Rupert Murdoch issued a statement yesterday on the News Of The World as the backlash of the phone tapping scandal escalated. From government to celebrities, and virtually every British newspaper in near universal condemnation of the paper, Murdoch faces a grim battle to keep his paper from collapsing.

The situation has worsened for News Of The World after public campaigning from celebrities and journalists encouraged advertisers to drop the paper. Actor Hugh Grant publicly asked people on CNN to boycott the paper and would be co-operating with police who are investigating the claims his phone was hacked by reporters. Is this the end of the News Of The World As we know it?

Rupert Murdoch's statement regarding the NOTW scandal

"Recent allegations of phone hacking and making payments to police with respect to the News of the World are deplorable and unacceptable. I have made clear that our company must fully and proactively cooperate with the police in all investigations and that is exactly what News International has been doing and will continue to do under Rebekah Brooks' leadership."

Does News Of The World have a future in Britain now that advertisers such as Vauxhall and Morrisons have decided to pull the plug? Other companies boycotting the paper include Renault, Ford, Cadburys, Virgin Holidays, Mitsubishi, Mumsnet and many more.