Indeed. Accordinging to the Guardian, a senior NI executive deleted millions of emails as soon as the police re-opened their investigation earlier this year. The police know the identity of the executive in question and are exploring that aspect.
Rebekah Brooks has said that the worst is yet to come, so it would appear more revelations are due.
As for the Murdochs, well, their bid to buy out the remaning share of BskyB is in serious doubt with the networks regulator, Ofcom, indicating that pending the outcome of the police investigations they may undertake a 'fit and proper' test that would determine whether News International are capable of properly running the satellite company.
The US Justice Department may also be looking at bringing a criminal prosecution of their own against James Murdoch following his statement a few days ago
I hope this proceeds too.