"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 realize that simply apologizing 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.