Roedy: We’re in nine. We launched Poland in October. In Germany, we acquired a group of channels a year ago; there were four music channels and we converted one to comedy. We now have terrific distribution in Germany with 33 million households. We launched Holland in April 2007, Italy in 2004, the UK in 1995 and Spain in 1999.

As for Comedy Central’s growth in the United States, have you reached your sweet spot, or do you see continued expansion?

Herzog: We certainly hope we haven’t peaked. No, we think there’s a lot of upside in Comedy Central. We’ve got a little wind at our backs with five successive quarters of growth. This looks to be our biggest year in terms of ratings overall. We’ve got Jon Stewart and Colbert, which have solidified our late night. Prime time remains one of the biggest opportunities. You can never have enough hits—The Sarah Silverman Program and Little Bush being two of our latest. We are going to continue to build and keep up the momentum.

With regard to Stewart, Colbert and Little Bush, are you afraid of a ratings drop once Bush leaves office?

Herzog: No. Jon Stewart started on The Daily Show in 1999, and he spent several years going after Bill Clinton. His show wasn’t any less funny then. Bush has been good for comedy, there’s no question about that. But I don’t think it all goes away when he leaves. I do think The Daily Show and Colbert have opened up the category of political comedy. That category was seen as somewhat narrow previously. I think they have mainstreamed it to a large degree. No matter who ends up in the White House, they will have to deal with Stephen and Jon.

Roedy: I can remember that same question being asked to the Saturday Night Live people with Gerald Ford or Johnny Carson with Ronald Reagan. There’s always somebody.

Are there markets where you say, "We’re just not going there. There is absolutely no appreciation of humor there?"

Roedy: I’ve never seen a country that doesn’t laugh. The key is to capture the local sensibility. As long as you do that, there isn’t any country where you can’t launch comedy. And conversely, there isn’t any country where you cannot add something as well.