As the parents of Milly Dowler arrived in London to hear Lord Justice Leveson's conclusions on what should happen to rein in the British Press, the disgust at media moguls was clear to see in this amusing caricature of Rupert Murdoch outside the unassuming conference centre in Westminster. Activists angry at the involvement of Rupert Murdoch's newspapers in the phone hacking scandal. Lord Justice Leveson has just delivered the headlines from his report after his 8-month long investigation into the culture, practices and ethics of the British press. This unprecedented level of media navel-gazing has arguably been the news story of the year.

Lord Leveson said the press "wreaked havoc in the lives of innocent people" for many decades, which had been 'damaging'. His conclusion is that the press needs a newer, tougher watchdog than the existing Press Complaints Commission. That self-regulation should still remain but that the body should be independent of serving editors, government or industry figures - and that it should be watched over by Ofcom, which in itself needs statutory underpinning.

Prime Minister David Cameron and his Deputy Nick Clegg will be making their own individual statements on the report in the House of Commons later on this afternoon.

Written and presented by Marverine Cole