Many Companies Cancel Advertising With News International
The phone hacking scandal could have deep repercussions for News International. Various companies are cancelling advertising deals with News of the World. The Royal British Legion, Sainsburys, Boots and N Power have all suspended advertising with News of the World due to the scandal.
News of the World investigative reporters are accused of accessing the telephone messages of soldiers. Also the phone of Millie Dowler was hacked and messages deleted.
These allegations are likely to be raised today and the government could force a decision on the forthcoming Sky BSB takeover by News International. Culture secretary Jeremy Hunt will be making a decision on the takeover later today.
News International share price has been falling for several days.