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Phone Hacking

My Lords, as my noble friend says, the position seems to change almost hour by hour. There will be, I think, a welcome around the House for the decision by News Corp to withdraw its bid. However, does he agree that this is not remotely the end of the story and that the inquiries that have just been announced remain essential, not least because of the position of companies such as News Corp? Will he confirm that the inquiry will be able to consider the law relating to American companies taking full control of British media companies when, by the law of the United States, we are prevented doing the same and taking full control of American media companies? That seems a very unsatisfactory position which has not always remotely been the case. Most importantly, does my noble friend agree that the inquiry gives us an exceptional opportunity to settle how the public can be better protected from the unacceptable press intrusions and illegal acts seen over the past years and that, above all, these things should be settled on a bipartisan basis?