Mr. Michael Doorly:

Absolutely. The reality is that our business is built around the product, and in this case the success of the product, the Irish Independent, is dependent on good reporting, on good journalism and on presenting content that is relevant to its readership. The paper comes first, and through its success, which is measured in terms of circulation, sales and readership numbers, it does create a platform for advertisers to target their audience and promote their goods and services. The balance that the Chairman referred to is therefore weighted towards the newspaper, and this is the domain of the editor and is separate from the commercial functions. In practice, the editor will hold daily conferences to review the news agenda and the make-up of the paper; there is no commercial representation at those sessions. It is the domain of the editor and it is separate from the commercial functions.