Rupert Murdoch admits missing NoW hacking cover-up

Rupert Murdoch has blamed a cover up at the News of the World for his failure to take early action over the phone hacking scandal.

He said one or two employees at the paper shielded senior executives from the facts, and when asked if he should have known about it, he said: "I also have to say that I failed, and I am very sorry about it."

It has also emerged for the first time tonight that the phone hacking scandal could affect Mr Murdoch's stake in BSkyB, Britain's most profitable broadcaster.

Nicolas Witchell reports.