So this is what TV stations have become?

There’s a very revealing and sad statement in a Bloomberg News, Reuters article today about News Corp selling eight Fox affiliate stations. It’s from Richard Dorfman, managing director of the investment firm Richard Alan.

“Ad dollars are migrating to the Web, but it’s a government-licensed franchise that can throw off good cash flow and reliably service debt.”

So there you have the bean-counter perspective on the value of a local television station in today’s changing market. It’s a cash cow that services debt.

Nice.

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