Earlier this week, I called on people to demonstrate their outrage at the News of the World phone hacking scandal by boycotting the paper.

It was not a call I made lightly but these were unprecedented circumstances which tainted not just the News of the World but the whole British Press.

A slump in sales, coupled with advertising withdrawals, would send a very clear message that such deplorable practices would not be tolerated by the newspaper-buying public.

I take no pleasure whatsoever in tonight's shock announcement that the News of the World is to be scrapped.

It is one of history's greatest newspaper brands and throughout its 168-years, its bold, investigative style of journalism has unearthed stories of international significance which served the public interest.

It is a matter of enormous regret that it will be best remembered for its failure to uphold basic human rights.

As Rupert Murdoch said in a statement tonight: "The News of the World is in the business of holding others to account. But it failed when it came to itself."

The irony is that, having called for a boycott, sales of the last News of the World this Sunday will go through the roof.