U.K. MP Milliband: Break up Murdoch's empire

Its most profitable, 168-year-old newspaper folded in shame. Two of its most powerful executives have resigned in disgrace. Its multi-billion dollar deal to move into satellite television went belly-up under pressure.

Yet for all the hits Rupert Murdoch's News International corporation has taken in the wake of an epic phone hacking scandal, it hasn't fallen far enough for some in the U.K.

Labour party leader Ed Milliband has called for Murdoch's media conglomerate to be broken up, saying media ownership laws in his country are "analogue rules for a digital age," reports The Guardian.

Milliband said that Murdoch has "too much power over British public life," adding "If you want to minimize the abuses of power then that kind of concentration of power is frankly quite dangerous."

The comments come just before Rupert Murdoch, his son James, the chief executive of News Corporation Europe and Asia, and former News International CEO Rebekah Brooks are set to appear before the Commons culture, media and sport committee.

On Saturday, Murdoch's tour of contrition kicked off in earnest as his organization took out full-page ads in several major British dailies reading: "We are sorry for the serious wrongdoing that occurred" in Britain's growing phone hacking scandal.

On Friday, the media mogul apologized in person after meeting the family of murdered school girl Milly Dowler whose phone was hacked by Murdoch's News of the World in 2002.

As public outrage grows with each new damning revelation, political leaders will try to make hay out of the scandal, and other news organizations can expect to enjoy a somewhat larger market share and a good deal of schadenfreude at the once all-powerful Murdoch conglomerate. All of News International's changes and attempts at atonement are too little too late for some.