Lord Justice Leveson today called for the introduction of a new media watchdog to curb what he described as decades of "outrageous" behaviour from the press.
The damning Leveson Report said the press had ignored its own code of conduct and had "wreaked havoc in the lives of innocent people" for many decades.
The High Court judge called for the press to introduce a "new truly independent" self-regulatory body which would be underpinned by law to eliminate a "sub-culture of unethical behaviour".
He said: "The press has to be accountable to the public in whose interests it claims to be acting and must show respect for the rights of others.
"It should not be acceptable that it uses its voice, power, and authority to undermine the ability of society to require that regulation is not a free for all, to be ignored with impunity.
"The answer to the question who guards the guardians, should not be 'no-one'."
Lord Leveson proposes that the failed Press Complaints Commission would be replaced by a new body governed by an independent board, appointed without interference from the newspaper industry or the government.
Controversially Leveson suggests this new body would have to be "underpinned by statute" to reassure the public of its validity - however he insists he is not proposing statutory regulation of the press.
He said: "The legislation would not give any rights to Parliament, to the Government or to any regulatory or other body to prevent newspapers from publishing any material whatsoever.
“Despite what will be said about these recommendations by those who oppose them, this is not, and cannot be characterised as, statutory regulation of the press.
“What is proposed here is independent regulation of the press organised by the press, with a statutory verification process to ensure that the required levels of independence and effectiveness are met.”
The new independent regulator would have the power to fine newspapers up to £1m or one per cent of turnover for breaching a new code of conduct.