Everyone thought the Deloitte report into the premium rate phone scandal at ITV would be bad, but did anyone think it would be this bad? Executive chairman Michael Grade was touring the TV studios in a desperate attempt to prevent a BBC-style bloodletting at the network, but our panel is scathing. Emily Bell, director of digital content, and Owen Gibson, media correspondent, are aghast at the report's findings.
Things are looking pretty grim across London too, with staff at the BBC reportedly in tears as the extent of director general Mark Thompson's cuts was confirmed. NUJ president Jeremy Dear tells us that the BBC's news and current affairs output should be protected, not slashed.
Meanwhile amongst all the grim news we celebrate some journalistic success, with David Leigh of the Guardian who, along with his colleague Rob Evans won the Paul Foot award for their investigations into arms deals involving the British government, Saudi Arabia and BAE Systems.
And as Sir Menzies Campbell blames the "ageist" media for his downfall, I ask Jocelyn Hay of Voice of the Listener and Viewer if she agrees. The youthful Gareth McLean is here with his usual cutting remarks on the state of the British media, including an update on the odds for the BBC1 controllership.
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