Press Complaints Commission chair Lord Hunt on Leveson
30 November 2012 Last updated at 13:38 GMT
The Press Complaints Commission (PCC) chairman said people need to "calm down for a moment, read it all through and then unite on the common ground" in the Leveson Report on press standards.
Lord Hunt said the new regulatory body - replacing the PCC - should have powers to give "proportionate" fines, rather than the £1m outlined in the Leveson Report.
He wants to play a part setting up the new body - and said it could include people from the media industry, but they should be former editors and those no longer working as journalists.
He told Andrew Neil: "You do need people from the industry if you are to have proper self regulatory structures."