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He recommended the legislation enshrine freedom of the press in British law and suggested that Ofcom, the U.K. communications regulator, ensure the new oversight body's independence and effectiveness.
WSJ: Leveson Report Urges 'Self-Regulation' of U.K. Press
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The royal charter created in the wake of Leveson will create a so-called recognition body to oversee a new press regulator.
BBC: Beneath the skin of the Leveson law
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The Guardian, whose editor Alan Rushbridger was at the meeting, reported on Wednesday that the editors had not signed up "to seven recommendations that proposed a role for Ofcom or some other statutory body in auditing the work of the regulator".
BBC: Leveson report: Editors 'agree on broad proposals'
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Although the government eventually set up a proper regulator for the telecoms industry (known as Cofetel) in 1996, this body has long been accused of being soft on Telmex.
ECONOMIST: Mexico
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What News Corp. has lost however by transferring authority over to a new regulator is significant, effectively forfeiting control over potential concessions and submitting themselves to the intense scrutiny from a new regulatory body that may not be as accommodating as Hunt, who green-lit the acquisition as early as March.
FORBES: Murdoch's News Corp. Expands Buyback With BSkyB Takeover In Limbo