Can the Cable Guy beat the Satellite King?

Today we’ve seen a fascinating example of how new media has triumphed over the old.

There’s been a lot of discussion about Business Secretary Vince Cable’s off guard comments about how he could ‘bring down the government’ by using the ‘nuclear option.’

It was recorded by female journalists from the Telegraph pretending to be his constituents. A typical honeytrap

It’s a good story but it didn’t lead the bulletins last night or this morning (there’s still now business like snow business.)

Now it transpires the Telegraph was actually sitting on a MUCH bigger story that would have blown the snow away faster than any plough.

Cable told the same undercover reporters : “I have declared war on Mr Murdoch and I think we are going to win”.

Vince of course will ultimately decide as Business Secretary if Murdoch’s takeover of BSkyB gets the go ahead

But the Telegraph – who are lobbying with other media organisations to block Murdoch’s takeover – decided not to run the story.

It now seems that someone inside the Telegraph felt the public has a right to know and leaked it to former Telegraph hack and current BBC Business Editor Robert Peston.

He duly filed on his blog at 2.30pm, forcing the Telegraph to run the story online an hour later.

Could it be that the Telegraph knew that if it ran the story it would damage Cable’s position to such an extent that he would have to step back from making the decision on BSkyB? Maybe, maybe not.

But the big headache for Cameron is does he move Cable – and be accused of pandering to Murdoch – or leave him there and be seen as weak and open to a legal challenge if Vince stops the takeover.

There are only two people smiling tonight. One’s Robert Peston.

The other is Keith Rupert Murdoch.