If you couldn't opt out of press regulation what would happen to Lord Gnome and Private Eye?

There was an interesting discussion on BBC Radio 4's The Media Show yesterday in which it was suggested that one way to toughen up regulation of the press would be to not allow publications to opt out of membership of the Press Complaints Commission, or whatever body might replace it.

The idea is obviously aimed at Richard Desmond who withdrew his Express newspaper titles and magazines from the PCC in January by refusing to help fund the body and in the process undermined the arguments for self regulation of the press.

But there is another title that is also not in membership of the PCC - Private Eye.

What if Lord Gnome decides he doesn't what to be part of a new press regulatory body "with teeth", would he be not allowed to publish?

In some countries newspapers and magazines are licensed by the state, usually totalitarian regimes.