Thank you.
CTV paid a lot of money for the rights to broadcast the Super Bowl. They did so on the basis of the policy that said they could substitute.... Any Canadian watching it would have to see their commercials. The economic value to CTV was quite high. Some Canadians have complained about that, but the reality today is that you can watch all of the Super Bowl commercials online before the Super Bowl happens. CTV has to spend 30% of the money it earns from those commercials on Canadian programs. That's a lot of money. Ten percent of that money.... If they make $100 million, they have to spend $10 million on drama and scripted comedy.