It doesn't seem fair but is
What is the usual balance of power in these cases?
Giant media corporation reports something on someone. If said person is relatively poor (No legal aid for libel cases in the UK) they can pretty well say what they like and not worry about results. Your life could be destroyed. SFW.
UK newspapers do not have to be balanced in their reporting. The Representation of the Peoples Act (which covers TV) does not affect newspapers
Where the situation is more balanced (small website, fairly well off person) an update (of the kind issued by El Reg for example) would seem fair. Note that could include whatever way a case went. "Mr X accused of 15 counts of yyy," could be followed by "Mr X found guilty of 12 counts of yyy"
Robert Maxwell would have taken advantage of the system, but he did that anyway. The failure to report their were (at least) "Concerns" on his business methods was a major failure of the British press for most of his career.
Now what happens when the hosting is moved off shore?