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Lawyers say paper was guilty of "one of the gravest libels."
The media mogul used Twitter to make the announcement.
Judge concludes it is "not necessary or proportionate" to continue the injunction.
Ian Hislop will be amongst those set to give evidence to the Inquiry next week.
Guardian newspaper asked to correct 26 articles alleging that the News of the World deleted Milly Dowler's voicemails.
Police said they tried to thoroughly investigate phone-hacking scandal.
Ex-News of the World journalist gives evidence on match-fixing.
650 jobs 'at risk' in heavy cuts at BBC World Service.
Former MP Paul Marsden has confirmed that he is considering taking legal action over alleged phone-hacking.
Former Prime Minister Gordon Brown wrote to Scotland Yard over the summer asking whether his voicemail had been tapped as part of the phone-hacking scandal.