We believe that, barring the unforeseen -- a significant downturn in the market -- the ABC network will likely be profitable in '05,

Today's announcement of our proposed combination of the ABC Radio business with Citadel Broadcasting underscores our commitment to maximizing the value of our assets for our shareholders, while focusing our capital and management resources toward our core businesses.

To say that I'm aggressive might be an understatement here. I'm thoroughly pleased with what ABC did and we're going to do more of it as a company on other sites.

Steve was instrumental in the development of numerous cable and online businesses, and played key roles in the enormous success of ESPN and the successful launch of the ABC Family Channel. We appreciate all that he has done...and wish him well.