With publication of  Lord Justice Leveson’s recommendations set for Thursday 29th  November and the pre-publication rhetoric reaching new levels ,here’s my take on the real bottom line  in 70 words:

The choice so far is between regulation where membership is voluntary,where decisions are enforced by the law of contract and where the  backstop is a body run by the newspaper industry (the Hunt-Black plan) and regulation which is not voluntary for large media groups, where decisions are enforced by the members and the backstop body is created by parliament (e.g  the MST plan). Let’s see what Leveson’s version looks like.