First of all, there has been tremendous consolidation in the business. When I think of our member companies as broadcasting distributors, which is television, they are very much up against huge media conglomerates now. There is tremendous upward pressure on the pricing for television programming, particularly sports.
It's to the point now where I think many of our members are close to treating broadcast television as a loss leader. The part of their business where the margins are is the Internet business now, and when you marry that with the idea that there are new disruptive technologies like Netflix, Apple, Amazon, and these companies coming, we don't know what that will look like. More and more of our members will be operating as Internet companies that are carrying content as opposed to broadcasting distributors in the regulated system.
It's a very challenging business on the broadcast side.