I've spent over half my life at NBC. This is the only place I have ever worked.
The cable model is just a better model. Dual revenue stream: advertising-supported and subscription-supported revenues.
More traffic means more advertising dollars.
The television business is actually going through a tremendous transition, but I think at the end of the day, television is still paramount.
Analogue dollars for digital pennies.
Local television is a slightly different story. It is under much more pressure in the same way that all local businesses are, whether that's a local newspaper, local radio or local television. But I think television in the aggregate is actually in very good shape.