You can view transcript highlights below.
Highlights
Rupert and James Murdoch
2:35 James Murdoch started proceedings by issuing a full-blown apology before Rupert Murdoch interrupted to say that this is the most humble day of his life.
2:50 R Murdoch has acknowledged he has been mislead by some of his senior employees that he trusted to run his company.
3:00 MP Tom Watson says they find some of Murdoch's employees guilty of amnesia.
3:15 R Murdoch says he does not accept ultimate responsibility for the phone hacking scandal.
3.30 J Murdoch says there are no immediate plans for a new Sunday publication to fill the NOTW void.
3.45 R Murdoch says he was "out of touch" with most editors of his publications.
3.50 R Murdoch says the News of the World had a contract with Max Clifford.
3.50 R Murdoch says he wouldn't expect his managing editor to drop a £1million pay-off into conversation.
4.00 "Les Hinton and Rebekah Brooks both asked to leave the company" says Murdoch senior. "She was in extreme anguish."
4.25 R Murdoch says he can't comment on whether Brooks will have known about the hackings due to the ongoing police investigation.
4:35 Murdoch senior says he wasn't kept in the dark by his employees but was didn't ask enough questions himself.
4.45 R Murdoch: "I was brought up by a father who was a great journalist. I would love to see my sons and daughters follow me."
4:50 R Murdoch says it’s a shame his relationship with Gordon Brown has "come apart" and hopes they will be able to eventually come back together.
4:55 James Murdoch says he only heard about the hacking of Milly Dowler's phone in The Guardian.
5:00 Incredible scenes here as a man is arrested for throwing what looks like shaving foam over Rupert Murdoch. Full story here.
5:05 It is thought the attacker is comedian Jonnie Marbles. Unconfirmed.
5:10 After a brief interruption the final round of questions has now resumed with a cleaned-up Rupert Murdoch.
5:15 Rupert Murdoch says he has not instructed News Corp publications across the world to examine if phone hacking has taken place but is happy to do so.
5:20 R Murdoch says he won't resign because it's the people who let him down that should pay and argues that he is the best person to resolve this crisis.
5:30 In his closing statement Rupert Murdoch apologised profusely once more.
Rebekah Brooks
5:43 After a five minute break we have resumed coverage with the questioning of Rebekah Brooks.
5:45 Rebekah Brooks says that what happened at the NOTW is "pretty horrific and abhorrent"
5:50 Brooks: "I did not work with private detectives when working on The Sun."
6:00 Rebekah Brooks, when answering questions on the hiring of Jonathan Rees after he had served criminal sentence, says she doesn't know who hired him and found out about it on BBC’s Panorama.
6:10 Brooks: “Closing the NOTW was a collective decision. Everybody is expected to find jobs again in News Corp.”
6:20 Rebekah Brooks says she has never sanctioned a payment to a police officer.
6:35 Brooks: "My own phone was hacked by Glenn Mulcaire. I had the same knowledge that everyone else had."
6:55 Brooks says she did not know how information relating to the Milly Dowler story was gained.
7:00 Brooks: "I regret some headlines and stories she's run but despite being in the spotlight she defends the right of the free press. This hasn't been a particularly pleasant experience."
7:10 Rebekah Brooks says she was a regular visitor to Downing Street while Labour were in power but hasn't been to Number 10 since Cameron has been PM.
7:12 Apparantly Brooks has never been horse riding with David Cameron either. That's cleared that one up.
7:15 According to Brooks it was George Osborne's decision for David Cameron to hire Andy Coulson.
7:20 In her closing statement Brooks says she wants to be invited back by MPs once the police investigation is over so she can answer questions more openly.
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