Thank you, Madam Chair.
This is our fourth meeting on the state of the journalism and media sectors. That's about eight hours.
On how media ownership impacts fairness in media, I'll go to you, Mr. Menzies. You've had three decades in newspaper. You were with the CRTC as vice-chair for four years.
When I look at the National Post, it's owned 62% or 63% by a hedge fund in the United States, by Chatham Asset Management in New Jersey. That was, I think, a turning point in this country. All of a sudden, the newspaper industry, the major newspapers in many cities, changed when that happened. I don't have to tell you that when you go down Deerfoot Trail, you can see that the iconic Calgary Herald building has now been sold. The letters of the Calgary Herald are off the building. It's now a U-Haul facility.
I would like your thoughts on media ownership. How could we let a hedge fund from the United States buy our most precious newspapers in this country?