Dan Sabbagh (left), Times Media Editor, says that the BBC appears to have got what it wanted

Does abolishing the Board of Governors make the BBC any more accountable?

No. There is to be no meaningful external regulation of the broadcaster. This is a victory for the BBC and its chairman Michael Grade. The BBC is left intact, and it remains largely free to govern itself.

Instead of the Governors, a BBC Trust will be responsible for regulating Corporation executives, and it will be chaired by Michael Grade. A second "executive board" will oversee the day-to-day management of the BBC. It is not clear that this will make a big difference, although it will separate out two functions that had got confused. In the past, the Governors were a rubber stamp for the management; by meeting them less they may be more inclined to be a bit more independent.

Is there any suggestion that BBC funding will be cut?

No, not yet. The licence fee has been secured until 2017, and while there will be a review half way through the next ten year Royal Charter, the impact of that review will not kick-in until 2017. At that stage it is possible that the BBC will be forced to raise some money from subscription, and that the licence fee will be shared with other broadcasters, such as Channel 4.

The actual level of the licence fee has yet to be set. Currently this increases slightly above inflation, a settlement widely acknowledged to be generous. The expectation is that a future settlement will see the growth in the licence fee capped at the rate of inflation.

But Michael Grade will still be in charge? Will he keep Mark Thompson?

Yes, ultimately, and yes he will keep the director-general. The chairman's job will be to lead the Trust, which in turn will measure the performance of every BBC channel against an agreed "service licence".

But the new structure is also designed to give the public a chance to rate the performance of BBC Trustees. They might get the chance to try and vote poorly performing members off. That could see the BBC facing far greater pressure from special interest groups than before.

Has the Government now made its peace with the BBC after the Hutton and Kelly row?

Yes. The BBC has got most of what it wants: a ten year settlement, and it is not subject to strong external regulation. With an election looming, the Government is desperate not to be seen to be antagonising the BBC any more, although some critics argue that the aftermath of Hutton has made the Government scared of taking radical steps.

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