Re: Fascism Inc. will do well
Terribly awful that law isn't it?
Either you set up (or join) an independent appeals scheme meeting certain requirements about allowing people to appeal what you write about them (in which case following the appeals process the costs of both defence and prosecution are carried by the person suing) or if you do not set up or join such an appeals process then should you write untruthful articles about somebody in the press then if they sue then the newspaper pays the cost of both the prosecution and defence.
The solution is to join an independent appeals scheme. If you don't like the existing one, start up your own. That is not a threat to the press; it merely curtails freedom to libel and provides consequences for the newspapers.
You can see why both left and right wing papers that have, shall we say "debatable" accuracy on their stories wanted shot of that.