14.02: Steve Hewlett introduces Hunt and outlines some of his previous remarks about the licence fee.
14.04: We kick off with BBC director general Mark Thompson's assertion that Sky will be more dominant than the BBC going forward, especially if News Corp succeeds in acquiring 100% of Sky.
14.05: Hunt says we, and especially he, needs to step back from a "family feud" between two significant broadcasters in the UK.
14.06: Is Hunt satisfied with current media ownership rules - where he can't owned Channel Television but he can own BSkyB - i.e. that ITV is no longer the major commercial broadcaster. "There is no need to change the rules. They allow the elected gov't of the day to take a position on plurality in the media." Hunt says it is business secretary Vince Cable's decision.
14.07: Hewlett raises persistent suggestions of Murdoch cronyism in terms of Conservative Party support. "It's not a big issue," responds Hunt. "The moment News Corp switched its support from Labour, all these issues started flying around." He pointed to David Cameron writing in The Sun in support of the licence fee and Tory support for the abolition of ITV's contract rights renewal mechanism as evidence that Coalition media policy is not directed by Murdoch.
14.09: Hunt outlines a vision of the BBC having competition in every genre to drive up quality.
14.10: "I will work with anyone," says Hunt in a rebuff of a suggestion he would be tempted to "have a clear out".
14.11: "Media is chronically over-centralised," says Hunt, citing Sheffield not having its own TV station as evidence of that.
14.13: Does Hunt buy Mark Thompson's broad argument? "I buy large parts of what he said. I agree with him about the special culture of public service broadcasting, the incredible importance of content and that the licence fee is at the heart of that. There are other issues as well. I don't look at his challenge to Sky to invest in content in quite the same way; Sky is a platform business."
14.14: Is the BBC a special case in terms of public sector cases? Hunt says each public service is special, but "the BBC has to live on the same planet on everyone else". "The rest of government, except for NHS and int'l development, is looking at cuts of 25%." He describes the BBC as "a public body funded by the government at arm's length".
14.15: Hunt draws a distinction between the BBC's editorial independence and the funding. This runs counter to John Simpson's view yesterday where he connected funding and independence. "My support for editorial independence of the BBC could make life uncomfortable for me in my party."
14.18: Licence fee discussions have not started yet, but Hunt outlines key issues. "The public is in a very different place when it comes to how public bodies spend their money. What I want to do is to establish within licence fee discussions what mechanisms the BBC will put in place to permanently move to operating in a different way."
14.19: "We've had a combination of strong BBC and strong competition. We need to have other competitors in the marketplace able to deliver high quality content. They need to have some certainty over the BBC's reach into commercial areas so they won't be put out of business by a wall of licence fee money."
14.20: Hunt's example "goes back several decades", to laughter in the audience. He cites the BBC's decision to launch breakfast TV weeks after a commercial entity decided to. He says GMTV but means TV-am.
14.22: A third component of discussion is the delivery of broadband services because of market failure in terms of delivering broadband UK-wide. This would continue the switchover levy on the licence fee.
14.24: "It's not our job to set salaries of management or which staff the BBC employs, but there are times when there is real public concern. Executive pay is one of those areas. The BBC has started to address that and I welcome that but the BBC took a long time to do so and had a rougher time as a result."
14.25: Hunt "absolutely" sees the emergence of 80 commercially viable local TV stations in the UK. He suggests affiliate models rather than 24 hour Channel M-type stations. He suggests local TV hasn't worked because of a decision to divide the UK into 9 regions instead of the hundreds of US defined market areas.
14.32: Hunt will look at whether the Competition Commission's remit is broad enough to satisfy the needs of viewers.
14.33: "I don't think the current governance structure of the BBC works."
14.36: Viewers want someone independent to complain to, says Hunt, citing the Jonathan Ross/Russell Brand incident.
14.38: The government would put in "safeguards" to ensure that nothing that the NAO did "affected John Humphrys ability to give tough interviews".