There is for the issue of police corruption, paying money to the police for information.
Paying money to official, civil servants, in exchange for special favours, is considered
corruption in almost any country, and it is a serious criminal offence. And this is just
one issue.
John Yates, the assistant commissioner of Scotland Yard, has his reasons when he
expresses regrets of not investigating seriously earlier:

“Scotland Yard Assistant Commissioner John Yates has expressed his “extreme regret” for the decision not to reopen the police investigation into phone hacking two years ago. …”
http://www.guardian.co.uk/uk/2011/jul/09/john-yates-massive-regret-phone-hacking-investigation

It was the result of some solid, dogged (because it was a competitor,) reporting by the Guardian.

In this case the NotW is dying a well deserved death. Some of those involved deserve prison, not least for abrogating their journalistic professionalism, all of them deserve being barred from ever writing again and the last thing to be printed by the NofW before shutting the doors must be a public apology.

As far as I am concerned the things that were criminal deserve to be brought to trial.

The tabloid industry deserves the monitoring it will get.