It is absolutely essential that these priviledged organisations who influence our entire society should be able to account for what they publish/broadcast and be held to account when they don't. Litigation is prohibitively expensive for almost everyone which makes redress all but impossible. If an organisation makes money out of publishing stories on an individual it is right and proper that the facts can be validated and sources confirmed without breaking the confidentiality of those sources. By insisting on facts being recorded and justified, complaints can be cheaply and quickly investigated, leading to more accurate reporting and more trust in the organisations producing it. This will be an expensive and unpopular system for the Media, but it will protect both the Public from media excesses and individuals otherwise unable to defend themselves from multi-million pound organisations and their teams of lawyers.
The proposal is that any media organisation operating in the UK should fund and adhere to a system recording all the facts and sources used in the creation of their stories. A trusted third party would audit this and would have the power to heavily fine those not complying or abusing the system. The system would be used amongst other things for cases currently dealt with by the ineffective Press Complaints Commission.