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The review, launched today by Conservative Shadow Cultural Secretary Jeremy Hunt, is in response to the Government's Digital Britain report.

It will examine into how to make the UK a global hub for content creation and distribution, and aims to provide solutions to building a next-generation broadband network for the UK, as well as sustaining the embattled local media sector.

The panel consists of 13 high-profile media figures, including chairman of the Shine Group, Elisabeth Murdoch, and the former BBC director of future media and technology, and current Microsoft UK chief, Ashley Highfield, plus Lastminute.com's co-founder, Brent Hoberman.

Other members include chief executive of Universal Music Group International Lucian Grainge; Classic FM managing director Darren Henley; Ofcom executive Kip Meek; former head of content strategy Will Turner; Ian Livingstone, the Games Workshop co-founder, and Rupert Dilnott-Cooper.