The former News of the World editor Andy Coulson has been found guilty of conspiracy to hack phones. His predecessor Rebekah Brooks has been cleared of all charges, in a trial which has been one of the most lengthy and expensive in criminal history. Steve Hewlett discusses what the trial has revealed about the culture of an industry competing to break the biggest stories; the relationship of the press with politicians and public bodies, and asks what damage the scandal has done to Rupert Murdoch's empire. A panel of media insiders also consider how the fallout from the hacking story, namely the Leveson inquiry and new press regulations, has impacted on journalism. Joining Steve is Nick Davies, the Guardian journalist who exposed the phone hacking scandal; Neil Wallis, former Deputy Editor of the News of the World; Lord Norman Fowler, former chairman of the House of Lords select committee on communications; journalist and Executive Director of Hacked Off, Joan Smith; Harriet Harman, Labour's Deputy Leader on her calls for tough regulation, and Peter Preston, former editor of the Guardian.

Producer: Katy Takatsuki.