Rebekah Brooks tells News of the World staff: 'I'm not resigning'

News International chief executive Rebekah Brooks has told News of the World staff today that she has no plans to resign and they will be helped in finding new jobs.

The tabloid confirmed yesterday that it would publish its final edition this Sunday, following allegations of phone hacking.

Brooks, who edited the News of the World in 2002 when the newspaper allegedly hacked into murdered schoolgirl Milly Dowler's phone, called herself a "conductor" to absorb the 'two years of trouble ahead'.

The 43-year-old added that the tabloid was closed because advertisers had described it as "toxic" and that as many jobs as possible would be saved.

Brooks also said that she was "angry" and feels "bitterly betrayed" by those behind the hacking scandal.

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Rachel Richardson, editor of News of the World supplementary magazine Fabulous, announced that it will not be closing down this Sunday. Describing it as "one piece of good news from the horror and shock" of yesterday's announcement, Richardson said that more details would be available soon.

CEO of News Corporation Rupert Murdoch has voiced his support for Brooks, adding that the company will continue to "fully and proactively co-operate with the police in all investigations" while "under Rebekah Brooks's leadership".

Prime Minister David Cameron earlier today announced two inquiries into the phone hacking scandal, one of which will be led by a judge. The second inquiry will look at the ethics and culture of the press.

Ex-News of the World editor and Cameron's former communications director Andy Coulson was arrested by police this morning.

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