This is a huge deal for the fundraising industry, a deal which is sure to have effects on PTOs and PTAs. Time -- through its Time Direct Ventures group -- has been successfully integrating magazine subscriptions into traditional fundraisers for the past several years. And now they've purchased the largest of the traditional magazine fundraising companies. Very interesting.

Short-term, we're hearing that there will really be no changes for groups. But we'll keep an eye on how this all plays out for you.