I thank all four of you here this morning. It was very enlightening, with lots of correct statements by all four of you.
It's interesting. Emerging media will never replace traditional media. The way I see it right now, you have the big corporate conglomerates—Bell, Rogers, Telus—who eventually will get into the game, and Shaw. They control everything here. Media now is all about this.
We saw it in the Olympics in Vancouver, when Bell decided to buy CTV because they were outside the stadium of the gold medal match of the women's hockey team. It just happened that the president of Bell couldn't get into the rink because there was a long lineup. Everyone was on their so-called smart phone. He realized it; two weeks later, BCE bought CTV back.
We don't need more subsidies, I don't think. We probably need more players in the game, but all four of you have just told me it's hard to get licences, and yet we've seen some growth in the industry. As well, all four of you have said that local news is very important. I think we've seen, in the recent federal election, that young people have stepped forward now and are going to have a bigger say.
Would you maybe just talk about that? I'm not really for more subsidies in this industry, when I see the big players around the table and see what their stock options are and where their stocks are sitting today.
Maybe Monica could start.