First of all, we don't believe it is in a state of crisis. We do know Canwest is facing significant financial issues. We do know CTV has taken certain writedowns, but as was just pointed out, they're a private company and we don't know what their numbers are saying. We believe there is an issue—that is, in terms of a recession—and we can see the impacts of that, but it's affecting every Canadian. It's affecting every business. We believe the way to get through this is to ensure we get the policy situation right.
The problem is that when we get into the whole ambit of the CRTC, we then tend to look at the only policy solution as being regulation, or subsidies, or other kinds of funding mechanisms. We think that's the wrong way to go. We think the proper way to go at this would be, for example, if there was a systemic issue that happened over the last number of years because of the change in viewing shares, then one has to not look at short-term solutions such as one-year licence renewals, but ask what is happening over the next number of years.
The commission has done that in the past. In the early 1990s it did look at the whole broadcast distribution and television business, and it included consideration of fee-for-carriage, which it also rejected at that time, and it laid out a vision for how cable was going to unfold over the next number of years. We think that's the proper approach.