Search on at 2nd British tabloid

Britains media watchdog is toothless and should be scrapped,opposition leader Ed Miliband said Friday after a phone-hacking scandal sent shockwaves across the country. The Press Complaints Commission has totally failed, Miliband said. It has been exposed as a toothless poodle. It is time to put it out of its misery. We need a new watchdog.

PM signals BSkyB bid delay

Nearly a billion dollars was wiped off the value of satellite broadcaster British Sky Broadcasting PLC Friday after British Prime Minister David Cameron indicated that the government was not going to wave News Corps bid for the company through any time soon. Cameron said the government was doing everything by the book but that a final decision on News Corps bid would take some time given recent events.

Murdoch rivals do well

Shares in the owners of rival publications such as the Sunday Mirror and the Sunday Mail jumped,as analysts predicted they would be quick to hoover up readers and advertisers left behind by the demise of the The News of the World.