Mr. Adam Larragy:

We would not necessarily see any impact. The two big areas where there could potentially be impact. The first is the provisions on media mergers that have been proposed by the Commission through the regulation. They are broadly similar to our domestic provisions. For a transaction or an acquisition of an independent radio station, we would not see the process being very different or different at all to what we are doing now. There would be no impact there. Article 6 provides a requirement for separation between the ownership, if we want to call it that, and editorial decisions. There are robust enough self-regulatory codes in place that mean that will not be major issue in Ireland. Again, we do not expect it to unduly impact.