The Media Show

Facebook starts 2011 on a high as the company has been valued at $50bn after new investment. But can Facebook be worth that much? Benjamin Cohen, Technology Editor for Channel 4 News and Matthew Horsman, founder of Medatique, discuss what the world's biggest social network is really worth.The attorney general issued a warning to editors last week after some newspapers and broadcasters reported personal details about Chris Jefferies, the man arrested in connection to the murder of Joanna Yeates. Media lawyer Susan Aslan, journalism professor Brian Cathcart and former editor of The Sun Kelvin MacKenzie discuss whether the coverage went too far and ask if Britian's contempt of court laws are outdated. Over the Christmas period, stories about seasonal flu dominated the news. But has this year been significantly worse or were reports exaggerated? BBC Health correspondent Branwyn Jeffreys discusses how the media reports the flu.And, as ITV News is banned from a press conference on the Joanna Yeates case by Avon and Somerset police, we speak to ITV's editor-in-chief David Mannion about his reaction to ITV's exclusion. The producer is Olivia Skinner.

2010 was the year when the media became the story. From coverage of politics under the coalition government to the drive to make journalism pay its way and the impact of the WikiLeaks revelations, stories about the media look set to continue to make headlines in 2011. Steve Hewlett is joined by Times columnist and former BBC executive David Aaronovitch, Anne McElvoy who is former executive editor of the London Evening Standard and soon to write for The Economist and Peter Bazalgette, formerly of Big Brother's Endemol and now a self-styled digital investor. Together they discuss some of the big media stories of 2010 and how they may continue to develop in 2011.The producer is Olivia Skinner.

As revelations about Vince Cable's thoughts on Murdoch owned News Corp's bid for BSkyB come to light, Steve Hewlett looks at The Telegraph's role in reporting the story and asks where this leaves News Corp's bid. It's nearly thirty years since Rupert Murdoch bought The Times. Through freedom of information requests, the BBC has gained an insight into how the deal was done. Graham Stewart, author of The History of The Times: The Murdoch Years and Ben Fenton, Media Correspondent for the Financial Times, discuss the deal and the parallels with Murdoch's current bid for BSkyB. Upstairs or Downton? The creator of Upstairs Downstairs has suggested that ITV's successful Downton Abbey borrowed too heavily from her drama. With the BBC set to re-launch an updated version of Upstairs Downstairs this Christmas, freelance TV critic Emma Cox and Gareth McLean, soaps editor at The Radio Times, discuss who will win out in the costume drama wars. The producer is Simon Tillotson.

BBC Trust chairman discusses potential cuts to BBC services and response to criticism. Banker looks into UK local television news viability. Media commentators delve into implications of BBC review and local TV possibility.

Investigative journalist Andrew Jennings criticizes UK sports news journalists for not beating him to his FIFA corruption story. Former BBC sports editor and Times reporter discuss challenges in sports journalism. Stephen Carter reflects on the state of broadband in the UK. Former ITV exec reflects on 50 years of Coronation Street shaping TV.

Michael Grade was chairman of the BBC and then ITV and is now heading to the House of Lords. Last week, he suggested that Channel 4 should drop its adverts and that licence fee payers should take over its funding. As a new Conservative peer, what changes would he try to bring about in the TV industry? With traditional journalism, many of this week's stories from Wikileaks could have commanded their own headlines and front page coverage for days. How far does the volume of stories work affect their impact and the ability of journalists to call the relevant people to account. In effect, is Wikileaks burying its own bad news? Columnist Ian Birrell discusses this with Janine Gibson, editor of the Guardian website.And, as Virgin Media launches its new video on demand service, TiVo, Steve asks chief executive Neil Berkett whether there really is a demand for this service. The producer is Simon Tillotson.

Sir Martin Sorrell, the chief executive officer of WPP Group and one of the biggest names in advertising, talks to Steve Hewlett about Rupert Murdoch's view of the media, the BBC licence fee agreement and advertising's chances of recovering from the economic downturn.Rupert Murdoch is reportedly set to launch a new US newspaper, called The Daily, which will only be available to read on ipads. New York media commentator Emily Bell and FT journalist Tim Bradshaw discuss whether an ipad-only paper could be a viable alternative to newspapers.Clare Sambrook has recently won two investigative journalism prizes, the Paul Foot Award and the Bevins prize for her investigation into child detention in the UK. She discusses working for free and her part in securing a promise from the Liberal Democrats to stop detaining the children of asylum seekers.

Tom Bradby shares insights on securing an interview with Prince William and Kate Middleton for ITV. Simon Kelner explains editorial decisions regarding royal engagement coverage. Lorraine Heggessey discusses presenter changes at BBC1. Peter Bazalgette analyzes the impact of UK tv companies being bought by overseas businesses on screen content. The podcast also explores ITV's financial success and the future post X Factor's end.

BBC 4's future uncertainties, Fifa corruption impact on England's World Cup bid, popularity of less talented contestants in reality shows, and the role of judges in audience preferences are discussed in an engaging manner.

ITV's chairman Archie Norman has said ITV's caught up in a ratings rat race, that the demand for a mass audience "drives us to the lowest common denominator every time." At the same time, Daybreak with Adrian Chiles and Christine Bleakley has lost enough of the mass audience to raise concerns about the programme's future. Is there really anything wrong with ITV's schedules and what, if anything, needs to be done to fix them? Times editor James Harding talks to Steve about the number of people paying to read The Times online. Do the figures provide a clue for other newspapers looking to make money from their journalism online? And Private Eye editor Ian Hislop discusses the future of investigative journalism, speaking to Steve before last night's Paul Foot awards.