David Cameron has defended giving Jeremy Hunt responsibility for the decision on News Corporation's takeover of BSkyB.
Hunt sent a memo to the Prime Minister arguing the case for the bid just weeks before being given the role but Cameron insisted he acted "impartially" once he was responsible for the decision.
Cameron said: "I don't regret giving the job to Jeremy Hunt, it was the right thing to do in the circumstances, which were not of my making."
Hunt was given the role after Business Secretary Vince Cable was stripped of the responsibility over comments made to undercover reporters.
The Prime Minster told ITV's This Morning: "The crucial point, the really crucial point, is did Jeremy Hunt carry out his role properly with respect to BSkyB and I believe that he did."
Documents submitted to the Leveson Inquiry revealed that Hunt sent a memo to the Prime Minister warning that Cable's decision to refer the bid to regulator Ofcom could leave the Government "on the wrong side of media policy".
In the November 2010 memo, Hunt, who will appear before the inquiry next week, warned that News Corp's James Murdoch was "pretty furious" over the Ofcom referral for the company's offer to buy the 61% share of the satellite broadcaster which it did not already own.
Cameron said shifting responsibility for the decision to Hunt was the "simplest, easiest, simplest path".
He said Hunt's comments in public over BSkyB had been "more effusive" than the memo sent to him.
"The key thing was it wasn't what he had said in the past, it was how he was going to do the job."
Cameron added: "He did act impartially because he took independent advice at every stage and he followed the independent advice at every stage."
He said then-Cabinet secretary Lord O'Donnell had been consulted over the role and taken legal advice - but had not been shown the memo.
"He didn't know about that email but he was in possession of what Jeremy Hunt had said publicly which was more effusive, more powerful."
No date has been set for the Prime Minister's appearance at the inquiry, but he said he was "looking forward to giving evidence", as was Mr Hunt, so "all of this will be out in the open".
Cameron said: "Some people are saying there was some great conspiracy between me and Rupert Murdoch to do some big deal to back them in return for support.
"Rupert Murdoch has said that's not true, James Murdoch has said that's not true, I have said that's not true. There was no great conspiracy.
"As I have said, I think the whole relationship between politicians on the one hand and the press on the other got too close.
"There are lessons to learn, we are already learning those with far more transparency about contacts between press and politicians.
"No government has done that before, but I'm pleased my government is doing it."
Prime Minister David Cameron
Deputy Prime Minister Nick Clegg
Chancellor George Osborne
Foreign Secretary William Hague
Health Secretary Jeremy Hunt
After a stressful year in the DCMS, Jeremy Hunt moves from Culture to Health, replacing Andrew Lansley.
Home Secretary Theresa May
Cabinet Office Minister Francis Maude
Chief Secretary To The Treasury Danny Alexander
Minister without Portfolio, Ken Clarke
Having stepped down from the Justice Department, Clarke is supposedly staying in Government rather than hanging up his boots. Chris Grayling will replace him as Justice Secretary.
Justice Secretary Chris Grayling
Chris Grayling, formerly in the Department of Work and Pensions, will step up to hold the job vacated by Ken Clarke.
Culture Secretary Maria Miller
Maria Miller has taken up the DCMS job after Jeremy Hunt moved to the Department of Health. Miller is one of the few new faces in the cabinet.
Defence Secretary Philip Hammond
Communities Secretary Eric Pickles
Education Secretary Michael Gove
Minister for Internation Development, Justine Greening
Greening, who has been subject to plenty of rumours since her fallout over a potential third Heathrow runway. Greening was in No 10 for over an hour on Tuesday, presumably arguing her case and battling to stay in the cabinet. She will now take over Andrew Mitchell's spot at DfID.
Transport Secretary Patrick McLoughlin
McLoughlin, who has spent the past two years handling backbench rebels as Chief Whip, moves to the DfT, taking over from under-pressure Justine Greening. Greening has yet to be moved.
Energy Secretary Ed Davey
Attorney General Dominic Grieve
Cabinet Office Minister Oliver Letwin
Warsi, one of the earlest victims of the reshuffle, has been ousted as party co-chairman and is to be replaced by Grant Shapps. Warsi instead moves to to the Foreign Office as a junior minister, while also working as faith and communities minister.
Party Co-Chairman Grant Shapps
Shapps, who was the housing minister, is bumped up to party chairman, taking over from the demoted Sayeeda Warsi.
Environment Secretary Owen Paterson
Spelman leaves her post, to be replaced by the former Northern Ireland secretary Owen Paterson.
Work And Pensions Secretary Iain Duncan Smith
Leader of the House Andrew Lansley
Despite recently setting in motion huge overhauls to the NHS, Lansley has been moved to fill Sir George Young's spot as Leader of the House. Jeremy Hunt will succeed him in the Department of Health.
Business Secretary Vince Cable
Northern Ireland Secretary Theresa Villiers
Theresa Villiers, who gave nothing away as she approached Parliament with a wide smile on her face on Tuesday, replaces Owen Paterson. Paterson has moved to Defra.
Welsh Secretary David Jones
Cheryl Gillan was one name always likely to be taken off the list, and she is replaced by David Jones, who served beneath her as a Minister for Wales.
Scottish Secretary Michael Moore
Chief Whip Andrew Mitchell
Andrew Mitchell has moved moved from the Department for International Development to the role of Chief Whip, replacing Patrick McLoughlin.
Lords Leader Lord Strathclyde