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This study is based on 200 interviews with senior British newspaper people in the 1990s. The author makes illuminating comparisons between Fleet Street of the 1960s and the 1990s. He argues that newspapers rather than television define political crises and severely wound Prime Ministers; that the broadsheets have increasingly regarded finance as the new core of serious journalism; and that the tabloids have redefined the British monarchy as soap opera. He also analyzes the control over policy-making for the press, broadcasting, and cross-media ownership, which is exercised by the Prime Minister in consultation with the press.