Broadcast network
A broadcast network is a telecommunications system comprising affiliated local television stations that receive and simultaneously transmit programming from a central production hub over public airwaves, enabling free access to viewers equipped with antennas within signal range.[1][2] In the United States, the dominant broadcast networks—ABC, CBS, NBC, and Fox—have shaped national media since the mid-20th century, originating from radio-era affiliations in the 1920s and transitioning to television by the late 1930s and 1940s.[3][4] These networks distinguish themselves from cable providers by relying on over-the-air spectrum licensed by the Federal Communications Commission, which imposes public interest obligations such as local news coverage and limits on content deemed indecent, fostering broad reach but constraining commercial flexibility compared to subscription-based alternatives.[1][5] Pivotal in milestones like live sports broadcasts, presidential inaugurations, and prime-time dramas, broadcast networks achieved peak influence during the 1970s and 1980s "golden age" before fragmenting audiences amid cable proliferation and digital streaming, yet they retain primacy for major events due to universal accessibility without paywalls.[3][5]Definition and Fundamentals
Core Definition and Purpose
A broadcast network consists of a centralized entity that produces or acquires programming and distributes it via dedicated lines, satellites, or other means to multiple affiliated local radio or television stations, which then transmit the content simultaneously over-the-air using terrestrial radio frequencies to reach the public.[2] This structure enables a single source of content to serve geographically dispersed audiences through owned-and-operated stations and independent affiliates that commit to airing the network's schedule.[4] In the United States, major examples include the American Broadcasting Company (ABC), CBS, NBC, and Fox, each operating under Federal Communications Commission (FCC) licenses that allocate spectrum for such transmissions.[6] The core purpose of broadcast networks is to deliver mass-scale dissemination of news, entertainment, sports, and educational content to households equipped only with standard antennas, fostering a free-to-air model that requires no subscription or paywall.[7] By pooling resources for expensive productions—like national news coverage or prime-time dramas—networks achieve cost efficiencies that individual local stations could not sustain, while affiliates benefit from ready-made programming supplemented by local news and ads.[8] This system historically prioritized universal accessibility, supporting public service obligations such as emergency alerts and diverse viewpoints, as evidenced by FCC mandates for broadcasters to operate in the "public interest, convenience, and necessity" since the Radio Act of 1927.[6] Empirically, broadcast networks have driven high penetration rates; for instance, as of 2023, over 15% of U.S. television households relied exclusively on over-the-air signals, underscoring their role in serving non-cable audiences including rural and low-income viewers.[9] The model's causal efficacy lies in its one-to-many transmission paradigm, which minimizes distribution costs per viewer compared to point-to-point alternatives, though it faces spectrum constraints and signal interference challenges inherent to analog and early digital terrestrial methods.[10]Key Operational Characteristics
Broadcast networks function through a hub-and-spoke model, wherein a central entity produces, acquires, or commissions programming—such as primetime series, news, and sports—and distributes it simultaneously to a nationwide array of affiliated local stations for over-the-air retransmission.[11] These affiliates, which comprise both network-owned-and-operated (O&O) stations and independently owned outlets under contractual agreements, number in the hundreds across the United States, enabling coverage of over 90% of television households without direct ownership of all transmitters.[6] The affiliation system relies on compensation flows: networks historically paid affiliates for carriage, but since the mid-2010s, affiliates increasingly pay "reverse compensation" fees to networks for programming rights, reflecting shifts in leverage amid declining linear viewership.[12] Programming distribution occurs via high-capacity satellite uplinks or dedicated fiber optic feeds from network hubs (e.g., New York or Los Angeles) to affiliate master control facilities, ensuring near-real-time synchronization adjusted for time zones via delayed feeds for western markets.[13] Affiliates integrate national content into their schedules, typically clearing 70-80% of primetime and daytime slots, while reserving "avails" for local insertions of commercials, news, weather, and public service announcements—averaging 12-18 minutes per hour of local ad time.[6] This local-national hybrid allows networks to achieve economies of scale in content production while affiliates monetize regional advertising, with national ad rates determined by audience metrics from Nielsen ratings, which track viewership in designated market areas (DMAs).[6] Operations are governed by Federal Communications Commission (FCC) regulations under Title 47 of the Code of Federal Regulations, including licensing of local stations on VHF (channels 2-13) and UHF (14-36) bands, must-carry obligations requiring cable and satellite providers to transmit local affiliates without compensation, and public interest mandates such as children's educational programming (e.g., three hours weekly minimum) and emergency alert system participation.[6] Unlike cable networks, broadcast operations emphasize free, accessible over-the-air signals receivable via antennas, supported primarily by advertiser revenue rather than subscriptions, though networks derive additional income from retransmission consent fees negotiated with multichannel video programming distributors (MVPDs) since the 1992 Cable Television Consumer Protection Act—totaling $4.2 billion across major networks in 2023.[14] Deregulation since the 1980s has minimized direct content oversight, prioritizing spectrum efficiency and competition over prescriptive standards.[6]Distinctions from Cable, Satellite, and Digital Alternatives
Broadcast networks transmit signals over-the-air via terrestrial radio frequencies allocated by the Federal Communications Commission (FCC), enabling free reception within a coverage area using an antenna, in contrast to cable systems that deliver content through wired coaxial or fiber-optic infrastructure directly to subscribers' homes.[15][1] Satellite television, meanwhile, relays signals from geostationary satellites to receiver dishes, providing subscription-based access that extends to remote areas lacking cable infrastructure but susceptible to weather-related disruptions like rain fade.[16] Digital streaming services, such as Netflix or YouTube, distribute content over the internet protocols, requiring broadband connectivity and often device-specific apps, which decouples delivery from traditional spectrum use entirely.[17] Regulatory frameworks further differentiate broadcast networks, which operate on scarce public airwaves and thus face stringent FCC oversight, including obligations for local programming, emergency alerts via the Emergency Alert System, and restrictions on indecent content to serve the public interest.[18] Cable and satellite providers, not reliant on public spectrum, encounter lighter content regulations, allowing greater flexibility in programming without equivalent must-carry rules for local stations or public service mandates.[14] Streaming platforms face negligible FCC content regulation, treated akin to unregulated internet services, enabling unfiltered user-generated content and minimal accountability for misinformation or obscenity beyond platform self-policies.[18] Content models highlight linear, scheduled broadcasting on networks—optimized for simultaneous mass audiences during prime time slots, such as the major U.S. affiliates reaching over 90% of households via OTA in 2023—versus the niche, multi-channel variety of cable and satellite, or the on-demand, personalized playback of streaming that supports binge-watching without fixed timetables.[6] Broadcasts prioritize live events and broad-appeal programming funded primarily by national advertising, yielding higher per-viewer ad rates due to guaranteed reach, whereas alternatives blend subscriptions with targeted ads, fostering specialized genres but fragmenting audiences and reducing communal viewing experiences.[1] This shift has seen broadcast viewership decline amid cord-cutting, with U.S. streaming surpassing traditional TV hours in 2023 per Nielsen data, though OTA retains advantages in reliability during internet outages.[19]Historical Development
Origins in Early Radio Networks (1920s)
The emergence of broadcast networks originated from the limitations of independent radio stations in the early 1920s, which struggled to produce sufficient high-quality programming to fill airtime amid rapid growth following the first commercial broadcast by KDKA in Pittsburgh on November 2, 1920.[20] By 1922, over 500 stations operated in the United States, but most relied on local talent and faced challenges in attracting advertisers without broader reach.[20] This scarcity prompted experimentation with interconnected "chain" broadcasting, linking multiple stations via dedicated telephone lines to distribute simultaneous programming, enabling economies of scale in content production and national advertising sales.[21] AT&T, through its station WEAF in New York, initiated the first sustained chain broadcasts in 1923, starting with a January 4 linkage to WNAC in Boston for a concert relayed over telephone wires on a toll basis, where stations or sponsors paid for line usage.[22] This model expanded with events like the April 1923 broadcast of the National Electrical Light Association meeting to stations in New York, Washington, D.C., and other cities, demonstrating the feasibility of simultaneous multi-station distribution.[23] AT&T's approach emphasized advertiser-funded "toll broadcasting," where national sponsors purchased time for messages aired across linked affiliates, contrasting with emerging donation or direct-sale models.[24] Concurrently, RCA's WJZ in New York formed parallel chains, such as with WGY in Schenectady, fostering competition and highlighting telephone infrastructure's role in enabling geographic expansion without on-site duplication of talent.[25] Regulatory and competitive pressures culminated in the formation of the first permanent national network when AT&T sold WEAF and its networking operations to RCA for $1 million in early 1926, amid antitrust scrutiny over AT&T's control of transmission lines.[26] On November 15, 1926, the National Broadcasting Company (NBC), backed by RCA, General Electric, and Westinghouse, launched with an inaugural broadcast from New York's Waldorf-Astoria Hotel, distributed over 19 affiliated stations from the East Coast to Kansas City.[27] This structure divided into "Red" and "Blue" chains—later networks—prioritizing live talent from centralized studios, setting the template for coordinated national broadcasting that prioritized efficiency and advertiser appeal over local autonomy.[28]Expansion and Maturation in Television Era (1930s–1960s)
The transition from radio to television broadcasting began in the 1930s, with radio networks like NBC and CBS investing in experimental television stations in major cities such as New York.[29] NBC launched regular television broadcasts from its New York station W2XBS (later WNBC) in 1939, featuring programming like boxing matches and variety shows, though viewership was limited to a few thousand sets nationwide.[30] These efforts were curtailed by World War II, as resources shifted to military applications and commercial development stalled, leaving only about 5,000 to 7,000 television receivers in use by 1945.[31] Postwar demand surged, with the Federal Communications Commission (FCC) authorizing limited commercial television operations in 1941, but rapid applications for new stations led to technical chaos from signal interference and inconsistent standards.[32] In 1948, the FCC imposed a four-year "freeze" on new television station licenses to resolve allocation issues between very high frequency (VHF) and ultrahigh frequency (UHF) bands, assess propagation problems, and finalize standards, effectively halting network expansion during a period of burgeoning consumer interest.[33] This freeze, lasting until April 1952, restricted growth to existing outlets—primarily NBC and CBS affiliates—while the upstart American Broadcasting Company (ABC), spun off from NBC's Blue Network in 1943, initiated its television service on April 19, 1948, with initial feeds to affiliates like WFIL-TV in Philadelphia.[34] Despite these constraints, household penetration rose from under 1% in 1948 (about 172,000 sets) to 9% by 1950 (roughly 5 million sets), driven by affordable receivers and programming like variety shows and early news bulletins.[35] The DuMont Network, another early entrant, operated briefly as a fourth option but struggled with limited affiliates and folded by the mid-1950s due to financial pressures.[36] The 1952 lifting of the freeze via the FCC's Sixth Report and Order enabled a boom in station construction, prioritizing VHF channels for major markets and allocating UHF for others, which facilitated network affiliation growth to over 100 stations by the mid-1950s.[37] Coaxial cable and microwave relay systems expanded national distribution, allowing NBC, CBS, and ABC to deliver simultaneous live programming across time zones, with household ownership reaching 75% by 1955 and 90% by 1960 (45.7 million sets).[29] Programming matured with structured prime-time schedules featuring serialized dramas, sitcoms, and live events, while news divisions professionalized—CBS's Edward R. Murrow exemplified investigative reporting on shows like See It Now starting in 1951.[38] Technological maturation included the FCC's 1953 approval of the RCA-developed NTSC color standard, compatible with black-and-white sets, though adoption lagged until the 1960s due to high costs; CBS's earlier mechanical color system (1950) failed commercially for incompatibility.[39] By the late 1950s, networks consolidated dominance through affiliation agreements, with affiliates carrying 80-90% network content, solidifying broadcast television as a mass medium for advertising and information dissemination, though regulatory scrutiny over monopolistic practices began emerging.[40] This era cemented the oligopoly of the "Big Three" networks, shaping cultural uniformity while facing nascent competition from independent stations.[41]Global Proliferation and Peak Influence (1970s–1990s)
The 1970s marked the zenith of broadcast network dominance in the United States, where ABC, CBS, and NBC—collectively known as the Big Three—commanded over 90% of prime-time viewership, serving as the primary conduit for national news, entertainment, and cultural events.[42] This era's influence stemmed from near-universal household penetration of black-and-white and emerging color television sets, bolstered by affiliate stations numbering over 700 by the mid-1970s, which distributed programming via microwave relays and coaxial cables to local markets.[43] Nielsen ratings from 1970 reflect this monopoly, with the networks capturing 95% of total audience share, enabling advertisers to reach tens of millions simultaneously and shaping public discourse on events like the Watergate scandal coverage in 1973–1974.[44] Into the 1980s, technological advancements such as satellite distribution via systems like those operated by RCA Americom facilitated more efficient national feeds, sustaining network primacy despite early cable incursions that reached only 19% of households by 1980.[45] The debut of Fox Broadcasting Company on October 9, 1986, as the first major challenger since the 1950s, introduced independent production models and youth-oriented fare like The Simpsons (premiering 1989), eroding the Big Three's share to 67% by 1989 while still asserting collective control over 80% of non-cable viewing.[42] This period's peak saw networks dictate primetime schedules with hits drawing 30–50 million viewers per episode, exemplified by Cheers averaging 23 million weekly in the late 1980s, underscoring their role in unifying mass audiences before multichannel fragmentation.[44] Globally, the 1970s–1990s accelerated broadcast network proliferation as over-the-air systems proliferated in Europe, Asia, and Latin America, often emulating U.S. affiliate models with national hubs feeding regional transmitters. In Western Europe, public broadcasters like the BBC expanded color services to 95% coverage by 1975, while private entrants such as Germany's RTL launched in 1984 via satellite-augmented terrestrial relays.[46] Developing nations followed suit: India's Doordarshan achieved nationwide reach by 1982 with color introductions for the Asian Games, serving 200 million viewers; China's CCTV grew from one channel in 1978 to multiple by the 1990s, blanketing 85% of the population.[47] This expansion, fueled by declining receiver costs and infrastructure investments, elevated broadcast networks to peak societal influence, disseminating imported U.S. programming alongside local content to audiences exceeding 1 billion television households worldwide by the late 1990s, prior to satellite and cable dilution.[47]Technical Foundations
Signal Transmission and Distribution Methods
Broadcast networks distribute programming from central production facilities to affiliated local stations primarily via geostationary satellite systems, where baseband or compressed video signals are uplinked to satellites operating in C-band (4–8 GHz) or Ku-band (12–18 GHz) frequencies and downlinked to receive-only earth stations at affiliate sites, enabling simultaneous nationwide delivery with high reliability and coverage. Fiber optic terrestrial links supplement satellite feeds for scenarios demanding ultra-low latency, such as live sports or news, by transporting uncompressed or lightly compressed signals over dedicated dark fiber or wavelength-division multiplexed (WDM) networks spanning thousands of miles. These methods replaced earlier reliance on AT&T's coaxial cable systems and point-to-point microwave relay chains, which by the early 1950s supported transcontinental live broadcasts—such as the 1951 transmission of President Truman's speech from San Francisco to New York—using repeater stations every 20–30 miles to amplify signals over L-band (1–2 GHz) microwave paths.[48][49][50] Local affiliate stations receive the network feed, perform any required processing like commercial insertion or format conversion, and retransmit the signal over-the-air from tower-mounted antennas using amplitude modulation for analog (pre-2009) or vestigial sideband modulation for digital ATSC signals in the VHF (54–216 MHz, channels 2–13) and UHF (470–608 MHz, channels 14–36 post-2017 spectrum reallocation) bands. Transmitter effective radiated power (ERP) ranges from 16–50 kW for VHF stations to 1–5 MW for UHF, with antenna heights often exceeding 300 meters to maximize coverage, achieving typical service contours of 40–80 miles in flat terrain via direct wave propagation.[51][52] Terrestrial signal propagation occurs mainly as line-of-sight electromagnetic waves, governed by free-space path loss proportional to the square of distance and inversely to frequency squared, with VHF signals benefiting from slightly greater diffraction over obstacles compared to UHF, though both are attenuated by terrain, buildings, and foliage; tropospheric super-refraction can occasionally extend range by 20–50% under specific atmospheric conditions like temperature inversions. Digital broadcasting incorporates forward error correction (FEC) and trellis coding in ATSC to combat multipath fading and interference, allowing robust reception via rooftop or indoor antennas within the signal footprint. Microwave links may still serve as short-haul interconnects between studio, master control, and transmitter sites at affiliates, operating in 6–11 GHz bands for redundancy or in areas lacking fiber.[53][54]Broadcasting Standards and Frequencies
In the United States, television broadcast stations operate on channels allocated 6 MHz wide within the VHF band (54–216 MHz for channels 2–13) and the UHF band (470–608 MHz for channels 14–36, post-digital transition adjustments).[52][55] These allocations, managed by the Federal Communications Commission (FCC), ensure separation from other services like mobile communications, with VHF providing longer-range propagation suitable for rural coverage and UHF enabling higher capacity in urban areas despite greater signal attenuation.[56] Low-power television stations and translators may reuse these bands under secondary status.[57] Analog television standards historically dominated broadcasting, with the NTSC system in North America specifying 525 scan lines and 29.97 frames per second for compatibility with 60 Hz power grids.[58] In contrast, Europe's PAL standard employs 625 lines at 25 frames per second aligned to 50 Hz mains frequency, offering better vertical resolution but requiring phase alternation line-by-line for color stability.[58] The SECAM system, used in France and former Soviet states, also features 625 lines at 25 frames per second but encodes color sequentially to mitigate transmission errors in early satellite links.[58] These analog formats, developed mid-20th century, prioritized monochrome backward compatibility while adding color subcarriers—3.58 MHz for NTSC, 4.43 MHz for PAL and SECAM.[59] The shift to digital standards addressed analog limitations like susceptibility to noise and fixed resolutions. In the US, the ATSC 1.0 standard, mandated for full-power stations by June 12, 2009, uses 8VSB modulation within the same 6 MHz channels to deliver compressed MPEG-2 video up to 1080i resolution and Dolby AC-3 audio.[59] Internationally, DVB-T in Europe and ISDB-T in Japan employ OFDM modulation for multipath resistance and mobile reception, often in 8 MHz channels spanning 470–862 MHz.[58] ATSC 3.0, deployed voluntarily since 2017, introduces IP-based delivery, 4K/HEVC support, and enhanced robustness via layered division multiplexing, with over 100 markets adopting it by 2025 for next-generation broadcasting.[59] Radio broadcasting, foundational to network models, uses distinct allocations: AM stations in the medium frequency band (535–1705 kHz) with 10 kHz spacing for amplitude modulation, and FM in VHF (88–108 MHz) with 200 kHz channels for frequency modulation, enabling stereo and higher fidelity.[6] These frequencies support wide-area coverage, with AM propagating via ground waves and FM relying on line-of-sight, influencing affiliate station placement in networks.[6] Digital radio standards like HD Radio overlay analog signals in the same bands without disrupting legacy receivers.[6]Modern Technological Advancements
The transition to digital broadcasting in the United States, completed on June 12, 2009, when full-power television stations ceased analog transmissions and adopted the ATSC 1.0 standard, enabled high-definition programming, multiple subchannels per frequency, and improved signal reliability through digital compression and error correction.[60][61] This shift freed up spectrum for public safety uses and allowed broadcasters to deliver enhanced content without the interference-prone limitations of analog signals.[60] Subsequent advancements culminated in ATSC 3.0, approved by the FCC in November 2017 as a voluntary standard, which introduces IP-based transmission protocols compatible with modern networks, supporting 4K ultra-high-definition video, high dynamic range (HDR) imaging, and immersive audio formats like Dolby Atmos.[62] As of 2025, ATSC 3.0 deployment covers over 75% of U.S. households in major markets, including early adopters like Las Vegas and Phoenix since 2018, enabling features such as mobile reception, hyper-localized emergency alerts, and interactive program guides.[63][64] High Efficiency Video Coding (HEVC, or H.265), integrated into ATSC 3.0 specifications since 2019, achieves 25% to 50% greater compression efficiency compared to prior H.264/AVC standards, permitting higher video quality within the same bandwidth or additional services like datacasting.[65] This standard supports bitrates up to 66 Mbps for 4K content, reducing bandwidth demands while maintaining perceptual quality, as verified through standardized testing profiles.[66] Datacasting capabilities, enhanced under ATSC 3.0, allow broadcast networks to transmit IP packets for non-video data—such as software updates, targeted advertising metadata, or file distribution—directly over-the-air to unlimited devices without relying on congested internet infrastructure, with platforms like Sinclair's Broadspan enabling secure, wide-area delivery since 2024.[67][68] These IP-integrated features bridge traditional terrestrial broadcasting with broadband ecosystems, supporting hybrid reception models while preserving spectrum efficiency through orthogonal frequency-division multiplexing (OFDM) for robust signal propagation.[69]Economic and Business Models
Primary Revenue Mechanisms
The primary revenue mechanism for broadcast networks is the sale of commercial advertising airtime during their programming schedules. Networks divide airtime into segments allocated to paid advertisements, with rates primarily determined by expected audience size and composition, measured via metrics like Nielsen ratings for key demographics such as adults aged 18-49.[13] Advertisers purchase these slots either through "upfront" markets, where commitments are made annually in advance for discounted bulk rates, or "scatter" markets for remaining inventory at potentially higher prices closer to airdate. This model leverages the networks' ability to aggregate mass audiences via over-the-air signals distributed through local affiliates, enabling broad reach without direct subscription fees from viewers.[70] In the United States, national advertising constitutes the core income for major broadcast networks including ABC, CBS, NBC, and Fox, with total U.S. television advertising expenditures projected at $60.6 billion in 2024, a substantial portion attributable to broadcast despite competition from digital platforms.[71] High-profile events like NFL games, which networks air under multi-billion-dollar rights deals—such as the $11 billion annual contracts shared among CBS, Fox, NBC, and others through 2033—command premium ad rates due to elevated viewership, often exceeding 100 million for Super Bowls. However, advertising revenue has faced pressure from audience fragmentation and cord-cutting, prompting networks to adjust inventory and pricing; for instance, U.S. broadcast station ad revenue rose 8.4% to $36.68 billion in 2024, buoyed by political advertising in election cycles but still vulnerable to long-term declines in linear viewership.[70] A secondary but increasingly vital stream involves retransmission consent fees negotiated with multichannel video programming distributors (MVPDs) like cable, satellite, and virtual providers, which pay for the right to retransmit local affiliate signals carrying network content. These fees, authorized under U.S. federal regulations since 1992, have grown as ad markets soften, with gross industry-wide retransmission revenue estimated at $14.8 billion in 2024, reflecting a 3% year-over-year increase before slowing growth projections.[72] Networks typically receive a share of these payments through affiliation agreements with station groups, supplementing ad income; for example, station owners like Nexstar reported $2.9 billion in retransmission revenue in 2024, outpacing their core ad sales and highlighting the mechanism's role in offsetting linear TV erosion.[73] While not the dominant source for networks proper—advertising remains foundational—these fees underscore a shift toward hybrid models amid declining traditional ad efficacy.[74] Other mechanisms, such as syndication of off-network programming and limited digital ad extensions, contribute marginally, often under 10% of total revenue, as networks prioritize live and primetime content to maximize ad scalability.[75] This reliance on advertising-driven models traces to broadcast's free-to-air origins, where public accessibility necessitates monetization via third-party sponsors rather than direct consumer payments, though sustainability hinges on maintaining audience scale against streaming alternatives.[76]Ownership Structures and Market Consolidation
Major U.S. broadcast networks operate under ownership by large media conglomerates, reflecting decades of mergers and regulatory changes that have concentrated control among a few entities. The American Broadcasting Company (ABC) is wholly owned by The Walt Disney Company, following its 1995 acquisition for $19 billion, which integrated the network with Disney's film, cable, and theme park assets. The National Broadcasting Company (NBC) is a division of NBCUniversal, a subsidiary of Comcast Corporation, acquired in a 2011 deal valued at $30 billion that combined NBC with Comcast's broadband and cable operations. CBS falls under Paramount Global (recently restructured with Skydance Media involvement), stemming from the 2019 merger of CBS Corporation and Viacom, creating a entity with extensive cable and streaming holdings. Fox Broadcasting Company is controlled by Fox Corporation, separated from 21st Century Fox in 2019 after Disney's purchase of the latter's film and international assets, leaving the Murdoch family with voting control over broadcast and news properties. The CW Television Network is majority-owned by Nexstar Media Group (75% stake acquired in 2022 for $100 million equity value), with Paramount Global holding the remainder, marking a shift from its prior joint venture between CBS and Warner Bros.| Network | Primary Owner | Key Acquisition/Merger Details |
|---|---|---|
| ABC | The Walt Disney Company | Acquired 1995 for $19 billion; integrates with ESPN and Disney studios. |
| NBC | Comcast (NBCUniversal) | Acquired 2011 for $30 billion; pairs with cable networks like USA. |
| CBS | Paramount Global | Viacom-CBS merger 2019; includes Showtime and MTV assets. |
| Fox | Fox Corporation | Spun off 2019 post-Disney deal; Murdoch family retains control. |
| The CW | Nexstar Media Group (75%) | Acquired 2022; focuses on local station synergies. |