According to a report in the Independent today a group of media and business figures are putting together a plan to rescue the News of the World which published its last edition on Sunday.

This followed a week of shocking revelations and allegations made against the Sunday tabloid relating to both phone hacking and payments to police. According to the Independent’s report the group of figures is attempting to “revive the title as a responsible investigative newspaper”.

At the centre of the group is Susan Douglas, a former editor of the Sunday Express, a former deputy editor of the Sunday Times, and a former executive in numerous media organisations.

… Ms Douglas has been holding talks with leading media owners and venture capitalists, but said that a rescue attempt would need to be made quickly before the opportunity to save the 168-year-old title was lost.

You can read up on all the latest in the phone hacking scandal at this link.