I'm just going to quote here that, since 2012, private conventional TV has been a big money loser for nine years straight. They've lost.... In 2019, it was 7.0%; in 2020, it was 18.6%; and last year they lost 12.4%.
These losses are real to our members. We love to hate—I'm going to say it again—Bell, Rogers and Shaw, but they're not so rich that we should just assume they're going to continue to fund local news as they continue to lose money. I want to point out—