Murdock's News of the World paper closes in U.K. after Phone Hacking Scandals.

Fox News may be in big trouble in the U.S., after their scandal ridden U.K paper was forced to close do to reader outrage and backlash. If this doesn't raise a few red flags in the U.S., I don't know what will.

News of the World to close on Sunday

The Nation's Chris Hayes, filling in for Lawrence O'Donnell, covered the story just prior to today's announcement with a few more AMAZING details:

ThinkProgress: Rupert Murdoch’s son and News Corp’s Deputy COO James Murdoch announced today that the company’s 168-year old British tabloid News of the World will shut down this Sunday after its journalists hacked phones, including those belonging to family members of soldiers killed in Afghanistan and Iraq. Noting that two employees went to jail for similar acts in 2006, Murdoch said News of the World “failed to get to the bottom of repeated wrongdoing.” There are two ongoing police investigations and inquiries by Parliament into these allegations, and reports suggest that the five journalists and executives involved in the hacking may be arrested by the end of the week.