I am now going to make a few quick comments about how Bill C‑18 could be improved.
The imbalance in the market is not just a question of advertising. There is also an imbalance when it comes to subscriptions. The application platforms decide what percentage of revenue they will keep, and they retain important information like email addresses for themselves. Bill C‑18 should contain somewhat more binding provisions regarding subscription-related transactions and the exchange of information.
Le Devoir is also associated with the French fact. We are concerned about linguistic duality. We believe that the Canadian Radio-television and Telecommunications Commission should have a duty to ensure that future negotiations respect linguistic duality and the small francophone markets, in both Quebec and Canada, that exist in a cultural and linguistic situation that is completely different from other media.
We also believe that the best way to proceed is to call for bargaining based on labour costs. That was done in Australia, in fact, where it was set at 30% of labour costs, 20% for Google and 10% for Meta. However, if we take that route, to avoid distortions, we should limit eligible salaries, as was done for the federal tax credit, to ensure that a new system is not created in which the biggest companies are the biggest winners, at the expense of the smaller players, local players, and niche players, such asLe Devoir.
On that note, I will thank you and invite your questions.