Joe:

Thanks again for coming to Houston this week.

CNN has a compelling brand and we believe that a number of the components of 
your proposal are worth exploring further.

However, we are not interested in pursuing discussions of the exclusive 
sponsorship.

I want to stress, though, that many of the elements of the package you and 
David presented are of interest and we would like to continue discussions 
with you.

Please get in touch with us to discuss how we proceed from here.

Thanks again.