Lord Justice Leveson's Report has been published. It calls for underpinning legislation to ensure proper self regulation so that the press is accountable. He said: "The press has to be accountable to the public in whose interests it claims to be acting and must show respect for the rights of others.
"It should not be acceptable that it uses its voice, power, and authority to undermine the ability of society to require that regulation is not a free for all, to be ignored with impunity.
"The answer to the question who guards the guardians, should not be 'no-one'."
He makes many recommendations as to how this might be achieved - including, notably, a binding arbitration process. He said he wanted the industry to sign up to a legally-binding arbitration process that would force newspapers to deal effectively with complaints.
The new body could have the power to "sanction" newspapers and fund investigations, while those titles which refused to join could face direct regulation by Ofcom.
The report into press standards criticises not only the newspapers but also the relationship between the press and politicians over the last three decades.
It will be interesting to see what the Government do in terms of implementation of his recommendations.