It's definitely a consolidating sector. With few assets likely to come on the block, you can definitely command a premium.
They're being responsive because this is something the equity market has been looking for as a way to target some of (News Corp.'s) pure entertainment assets.
Knowing there's not going to be another opportunity tomorrow to buy the next player, you have a lot of people betting on this round right now.
I think, under the traditional broadcast model, it is going to be very difficult to get other revenue streams right now.
Mel clearly has Wall Street's ear and attention. Whatever goes on, I think they want to hear it from Mel.
He's never been afraid to pay and keep a top producer.
Either you control your costs better by being integrated vertically by owning production, or the alternative is capturing new revenue streams.