So the 1st Leveson report was published earlier and, aside from my own small contribution, the interwebs has been awash with differing takes on the subject. Here are just a few*:
Caron summarises Nick Clegg's statement using the power of Storify. And you can read his statement in full here, with David Cameron's here.
Of course, a free press is a core Liberal belief - and there were many in the party who felt that this cannot be guaranteed if there is any form of State involvement in the regulatory framework. Stephen Tall, for example, believes that Cameron was sticking up for Liberalism today, rather than Clegg.
The party leaders are meeting tonight and much more debate will ensue - I've a feeling that we'll be coming back to this topic again several times before it's settled.
*Well, six, obviously.