The inquiry will look at the phone hacking scandal specifically but also at broader issues involving politics, the media and the police.
It is expected to report within 12 months.
When he was appointed, Lord Justice Leveson said: ''The press provides an essential check on all aspects of public life. That is why any failure within the media affects all of us.
''At the heart of this inquiry, therefore, may be one simple question: who guards the guardians?''
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