The closure of the News of the World when most of its advertisers have said they won't advertise with it any more hardly amounts to penance for the sick behaviours of its journalists, subs and editors. It is clearly a case of a damage limitation exercise, cutting adrift something that was holed below the waterline anyway.
From the noise coming from the government and Ofcom, the powers that be desperately want Murdoch to continue and enhance his role as the UK's offshore Berlusconi.
Well help is at hand. The 38 Degrees website has a petition and an email campaign to "help break Murdoch's grip" on media and politics in the UK.