I am quite sure that if the Dowler's had been given a straight choice between getting £2m or keeping their daughter then the daughter would have been the choice without hesitation. Thankfully families that do accept payment for their offspring are few and far between.
Furthermore, I don't doubt that Murdoch does feel remorseful about this situation. He's a human being with human thoughts, and whilst he may have many qualities which many people would find contemptible I very much doubt that he is unable to appreciate what losing a precious daughter could bring. So in that respect, I award him some human respect for having tried to do something positive to compensate. Aside from nailing his despicable son to a cross and parading him for the world to see I can't actually see what other action he could have taken beside handing over a wedge. Sure, Murdoch is a very rich man and maybe there could have been some discussion about the amount being offered - but he's made an honest commitment to try and bring peace to a family that has suffered from the actions that were brought about by a company that he owned - and I applaud him for that.
And whilst I'm not defending Murdoch or his evil empire, it wasn't him who was directly involved in phone tapping any more than it would be the owner of a company who sold pump action shotguns used to carry out the Columnbine disaster (etc). The problem comes down to the greed of individuals, who sold their soul so as to earn a living. Maybe there was a problem within the Murdoch empire which allowed that to happen, maybe there wasn't. But old man Murdoch wasn't the one pulling the proverbial trigger. I somehow doubt that Murdoch sleeps peacefully about this situation.
As far as I am concerned they can tap my phone a thousand times and post the results in the daily news - if it helps keep creatures like the one that carried out the crime off of the streets. I have a daughter too, broadly similar age to Milly, and I sure as hell wouldn't want her to suffer in the way that Milly did. And for the record, £2m won't buy her release, ever.
My greatest respects to the Dowler family. It must be an appalling tragedy to deal with.