Sorry, I only have five minutes. I appreciate your answer.
I guess my concern is that to me, one of the big obstacles has been the CRTC. I mean, the CRTC has rubber-stamped ownership acquisition after ownership acquisition, and the argument, we have been told, is that it would protect local. You've gutted the obligations for Canadian content. And now what are we seeing after all this time? U.S. programming has gone up 75% since 2000 and Canadian programming is stagnant.
We have not seen evidence of losses at local television networks to justify the so-called extent of the crisis. What we're seeing is that some companies have massively overleveraged themselves because they've been allowed the consolidation. We see the money coming from specialty channels, but the losses are being felt on the backs of local, and yet you're saying here that you would consider lower levels of local programming.