The politicians' draft Royal Charter is supposed to be a wizard wheeze to entrench "voluntary independent self-regulation", Judge Leveson's Orwellian oxymoron, without crossing David Cameron's Rubicon into statutory regulation. Of course, it does nothing of the kind. It is state regulation by any other name.
In the digital age newspapers are out of date by the time they are published. This is one of the reasons why publishers are investing more in their wider media strategy, with the Evening Standard recently announcing the forthcoming launch of a television channel. One side effect has been the rise of some very successful online publications, but most blogs are volunteer run and don't have enough resources or attract a broad enough readership to compete with the established media in quality terms.
The past decade has seen a decline in trust across the board. The figures for senior police officers is down 23 points, from 72% to 49%; local police officers are down 13 points, from 82% to 69%, Even family doctors (down from 93% to 82%) and school teachers (88% to 70%) have seen double-digit falls, even though both still occupy the two top places.
Daily newspapers will one day provide the most intriguing episodes in the story of how traditional media was tortured and tamed by the digital new wave. But the winners are starting to draw away from the losers in a race many will not finish. Try this hot four of traditional media companies in Europe and the US.