Mr. Brian Dalton:

There are important points and I understand that when people look at the fees being paid to these people, they feel they have a different legal relationship. That is copper-fastened when it comes to security but also with regard to pensions. If we look at the cost of providing a 40-year pension, it is significant, and actuarially, we should look at what it would cost to have 50% of income at a point in time that is indexed and compare it to contracts of three years' duration with companies or sole traders. We take on no liability at all for these other benefits that last for a long time, particularly defined benefit pensions. We must take into account a number of factors.

If we have regard to the requirement for us to exploit commercial opportunity, it is important that we take into account how a particular programme performs and the audience it attracts. At a point in time, if something is not working out, we maintain the right to terminate the contract.