Dr. Geist, I had flagged a long time ago, along with you, how the huge three of Bell, Rogers and the CBC public broadcaster have been taking a lot of the money. It was verified by the Parliamentary Budget Officer: Nearly 75% of the money that will become available through Google and Facebook/Meta will in fact go to the big industry players.
I am very concerned. My colleague Martin Shields and I have talked about the arbitration, and that these little newspapers in Canada really have no means of fighting when they get to the table—if they in fact do get to the table—with these giants. Could you give your thoughts on that? You have been very opinionated, I would say, on the three, along with me. I just want you to back me up a little bit, if you don't mind.