Agreed. Let me point out, though, the broader dynamic.
Things we do control, the CBC's pay budget, yes. We control the sunsetters, yes, which is reflected in the budget that you're referring to. We also control the Canada Media Fund, which is now A-based in our budget as of last year's budget. It is $100 million per year by the Government of Canada, leveraged by $262 million last year, $362 million in money that was going to disappear, $362 million of which more than a third goes to the CBC. That has to be factored in as well. By the way, that amount, frankly, almost offsets the reduction, if you compare apples to apples. They were receiving money from the Canadian Television Fund before, but that money being A-based now and being a permanent part of the infrastructure is something that CBC can now forever count on. That's very important.
We don't control the CRTC's licensing requirements of the CBC. We do not control the CRTC's decision on the local programming improvement fund and what consequences that has for the CBC. We don't control the NHL, their labour issues, and what that means for the ad revenue for the CBC. We don't control the general economy and the ad revenue market for the CBC all together. We take all those things together—