I was initially against any press regulation on the grounds that I really wouldn't want to be in a country where whistle-blowers could be silenced, where politicians could not be held to account and where a less benign regime could abuse the original intention of any legislation.
However, upon giving it a lot more thought, I now realise that the genie is so much out of the bottle with Wikileaks, Facebook, Twitter, etc. that the press can no longer claim their right to first disclosure of public interest matters as a defence against compulsory regulation. That argument no longer holds water.
Ah, but I hear you say, how will be know whether or not to believe what we read on social media? Well, in response I ask you a question. How do you know whether the established media tells the truth? It's a wild world out there in swamps of gossip and the only solution is "reader beware".