Thank you, Mr. Chair.
Ms. Moore, as far as Bill C-32 goes, An Act to amend the Copyright Act, it will be discussed by another committee. It will not be the industry committee doing the study, but a legislative committee. So even though it is very much related to today's topic, another committee will be carrying out the study. I just wanted to let you know that.
Good afternoon, and thank you all for being here. Mr. Hennessy, we have discussed this issue before. You are here today to talk about emerging and digital media, and the opportunities, challenges and terms of reference that entails. That covers a number of elements. You had the choice of addressing any one or more of those aspects, and you chose to focus on foreign ownership.
According to your logic, if we open up telecommunications to foreign ownership—and we must first decide whether we are going to and, if so, to what extent—then we must also do so in broadcasting.
That concerns me on many levels because I get the sense that there would no longer be any limits at that point. I get the sense that you are willing to open up our companies that operate under the Telecommunications Act to foreign interests. You are also willing to open up companies that operate under the Broadcasting Act to foreign ownership.
Obviously, as you, yourself, said, everything is integrated. There is tremendous vertical integration. Just about everyone today is involved in telephone communications, broadcasting, content and so forth. I am very uncomfortable with the idea of opening things up that way, because I worry about what we would be left with in Canada. What would we be left with in terms of broadcasting companies and ultimately creative companies, those involved in producing content? If I were to apply your logic on liberalization, there would no longer be any limits whatsoever, and just about everything would be open. The way I see it, that would likely harm Canada's cultural industries.
So I want to know whether you envision any limits in your approach. For instance, should we open up only some of the broadcasting sector to foreign ownership, or all of it? In that case, should foreign ownership be limited to 49%, or should full ownership be allowed? Should these companies have to pass certain tests before they could be accepted? I would like you to elaborate a bit more on that, please.