Rupert Murdoch will place a signed advert in many of the UK's national papers tomorrow apologising for the furore after the News of the World phone hacking scandal.
In the advert he will say the company is "sorry for the serious wrongdoing" that occured at the tabloid paper, which produced its final issue at the weekend.
The public apology will be printed the day after the resignation of News International Chief Executive Rebekah Brooks.
The full text of the advert is below:
The News of the World was in the business of holding others to account.
It failed when it came to itself.
We are sorry for the serious wrongdoing that occurred.
We are deeply sorry for the hurt suffered by the individuals affected.
We regret not acting faster to sort things out.
I realise that simply apologising is not enough.
Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this.
In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us.
Sincerely,
Rupert Murdoch