Rupert Murdoch may walk away from his three other British newspapers after phone hacking accusations were made against The Sun and the Sunday Times, following the News of the World scandal.
 
According to The Times, one of the papers owned by News Corp, "City analysts asked whether News Corps could walk away."
 
Murdoch’s decision would be a strategic move in a last attempt effort to control BSkyB, the satellite giant that News Corp has been bidding on despite its 39% share in the company.
 
“By dropping the News of the World, [Murdoch] can say his involvement in news and current affairs in Britain has actually diminished and argue that the issue of media plurality has disappeared," said Lib Dem MP, Don Foster.

Bids on BSkyB have been suspended, and members of Parliament are set to vote on Ed Milliband's motion that would encourage News Corp. to withdraw its bid.
 
"This House believes that it is in the public interest for Rupert Murdoch and News Corporation to withdraw their bid for BSkyB," said Milliband, who met with the family of Milly Dowler today.
 
In the wake of the slew of phone hacking allegations, News Corps shares have been continually declining, falling 7% yesterday in the New York Exchange. Just this afternoon, News Corp launched a $5 billion shares buyback in order to artificially inflate the company's value.
 
BSkyB has not been fairing well either, with shares falling 2% this morning.
 
At present, an estimated 4,000 people have thought to have had their phones hacked by private investigators working for the News Of The World.