The transcripts of the official inquiry into the culture, practices and ethics of the press. More…

I think that's been one of the big problems, that in the rush to get involved with the early stages of digital media, newspapers took the view that it was important to get readers rather than income. I think now those strategies are starting to change and the uncertainty about the future is how quickly they can change their strategic direction and start, as you say, to monetise their valuable product.

I've seen various commentators, for example, postulate that the future of news in the end will be highly polarised. There will be a small number of providers of high value news to those who are really interested and prepared to pay for it, and the rest will be relatively -- I hesitate to use the word "low value", but probably low investment news which will be made free of charge for those who are less interested, and there is a risk that the middle market might disappear, if you believe that sort of future prediction.

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