This is not a story that can be understood from headlines alone, partly because in Britain the headlines have so often wildly distorted the truth. Despite what you may have read, there is no threat by British politicians to interfere with press freedom. There is, however, a powerful consensus for change.
In the digital age newspapers are out of date by the time they are published.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.