Rupert Murdoch will use adverts in national newspapers on Saturday to apologise for the News of the World's "serious wrongdoing".
The media tycoon will personally say he is "deeply sorry" for the hurt suffered by the people affected as he seeks to atone for the phone-hacking scandal.
The advert will run in the Daily Mail, Daily Telegraph, Financial Times, Guardian, Independent, Sun and Times, News International said.
Mr Murdoch says in the newspaper advert: "We are sorry. The News of the World was in the business of holding others to account. It failed when it came to itself.
"We are sorry for the serious wrongdoing that occurred. We are deeply sorry for the hurt suffered by the individuals affected. We regret not acting faster to sort things out.
"I realise that simply apologising is not enough. Our business was founded on the idea that a free and open press should be a positive force in society. We need to live up to this.
"In the coming days, as we take further concrete steps to resolve these issues and make amends for the damage they have caused, you will hear more from us. Sincerely, Rupert Murdoch."
A second advert will appear in newspapers on Sunday and Monday, outlining the steps that News International and parent company News Corporation have taken to investigate and address previous wrongdoing and prevent it from happening again.
This will be published in the Evening Standard, Independent on Sunday, Financial Times, Mail on Sunday, Metro, Observer, Sun, Sunday Telegraph, Sunday Times, Times and Wall Street Journal Europe.