Among the guests was Sir Christopher Chataway now 74

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Among the guests was Sir Christopher Chataway, now 74."ITN has become, over 50 years, an institution," says its chief executive Mark Wood. "It's one of the great world news organisations, and that reputation has been built up through strong journalism and a lot of scoops. There is, I think, a very distinctive ITN way of making news approachable and accessible," the former Reuters editor adds.Once all the champagne has been drunk, there will still be plenty of new challenges for ITN: it lost the Channel Five news contract to Sky News last year; the ITV News channel is in third place behind BBC News 24 and Sky; and talks will soon begin for the renewal, or otherwise, of its Channel 4 news contract.There are ownership issues to be resolved. ITV, which owns 40 per cent of ITN, has said it wants to acquire the news company, but there's no sign of anything happening now. The stakes of United Business Media, Reuters and Daily Mail and General Trust will be hard to value should everyone want to sell.As it builds an ambitious "non-TV news business" in everything from content for 3G phones to educational software to TV archives, ITN is watching the activities of the BBC like a hawk. There was a show reel, speeches, and a version of University Challenge between ITN presenters and politicians that was marred by poor acoustics. The scratchy black- and-white news bulletin features a very young Chris Chataway.

The lead story is on the government warning that there will be no automatic reprieves for convicted murderers, even though Sidney Silverman's Bill to abolish capital punishment is going through parliament There's also news of a printers strike and factory lay-offs. All this was broadcast on the evening of 23 February 1956, and it's the earliest surviving example of an Independent Television News bulletin. Even then, there was an "And finally..." item, but on this occasion it was merely the good news that a thaw was on the way. The first ever ITN broadcast was on 22 September 1955, also with Chataway, and the 50th anniversary was celebrated last week at a grand bash in Covent Garden. Is this good or is it not?" And it was quite clear that he knew it was very good.He also said that his doctor had recommended that he couldn't drink anything other than champagne or the very best red wine - which he took seriously.I thought the Mail was a great place to be, though at that stage I don't think I ever thought that I should be a city editor.

But he was a director of the paper and also made a huge amount of money because he launched Euromoney: he was a good example of why business journalism was a good career.Patience Wheatcroft is The Times' business editor. I remember one day he said: "My dear, Private Eye has described me as an ageing matin?idol. He made this clear and he had people working hard for him.The fact that he could write about business in an entertaining and chatty way was something I appreciated and learnt from, and the fact that he could talk to anybody in business on almost an equal footing was quite new in journalism.He had a great sense of humour and he was very classy. He sent me off to meet people he knew and offered lots of helpful hints.I worked hard on everything because what one didn't want was for Patrick to be disappointed in anything. I had been working on a property paper and I knew I didn't want to be a foot-in-the-door-sorry-to-hear-your-child-has-died type of journalist.

I wrote to Patrick, we had a cup of Earl Grey and he said: "You can come in on a six month trial", so I did. It would have been 1976 and I was still quite little - 24 - but he was giving me a fantastic opportunity and he taught me a lot. He wrote his column in a very idiosyncratic way and one week a year he would write it from Ascot and his byline picture would change into him wearing a top hat. Patrick, the Daily Mail's city editor, was the great doyen of city editors of his time He was incredibly stylish and a remarkable role model. I do not think she can ever come back as a major model, but what she can do is salvage her long-term reputation as a British fashion icon rather than a tawdry fashion junkie.. She should issue a statement to this affect but give no interviews.

In her current state this is unwise and she cannot undo the damage. Besides, there is plenty of time to plan a comeback with an autobiography, a choice collaboration, but only next year if not the year after.Finally, she should find some help but avoid celebrity clinics and other places which court publicity. She should have apologised unreservedly immediately instead of toughing it out. She assumed that the media was prepared to keep her open secret indefinitely. She should now appoint a PR agency that knows how to handle A-list celebrities and get some proper advice about not just today and tomorrow but the future. She may have been nearing the natural career end age-wise anyway, but unless this cloud is lifted, over time she will forever only be known as "Cocaine Kate".She should try and salvage some dignity, and resign any outstanding accounts she has not been ditched from and take time out to sort out issues away from the camera.