I will certainly attempt to do that.
All local stations have CRTC obligations. The licence they hold is really quite strict. You have a certain percentage of locally relevant news you have to do per week. You have a certain amount of locally reflective news you have to do per week.
The CRTC held three hearings between 2014 and 2018 to solve this issue, to make sure that small and medium-sized markets would continue to enjoy local news. That is why they created the vertically integrated funding opportunity to enable companies like Rogers cable and Shaw cable to move money to their licensed entities.
The regulations dictating the amount of news required to be produced per week by each of the stations—I can't speak for Global or CTV—don't change as part of this transaction. They simply do not change.
What we are saying is that on CityNews, where we have a budget of $20 million and Global has a budget of $100 million, that $13 million would go really far for the news that City produces.