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The issue is that Cameron is Murdoch's man. But his position in the party is precarious, so it's perfectly possible he'll be thrown under the bus and replaced by some horrible twitching winger in an attempt to forestall a Murdoch-sponsored UKIP slaughter of the Tory vote in the next elections.
It's a four-way punch up between a few honest police, a corrupt establishment with some very nasty secrets, a parliament full of political chancers on the make, and Murdoch with an alleged collection of 'interesting' journalism about all of he above.
There's worse to come. My guess is the secrets are probably going to come out anyway, and they may change the game in a truly historical way.
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