The downgrading of four major broadcasting companies by S&P reflects the industry's shift from linear TV to streaming, significantly affecting their financial stability.
The local TV broadcasting industry is expected to face a continued decline in ad revenue, exacerbated by the heavy reliance on political advertising during election seasons.
Predictable short-term growth in local TV advertising, spurred by returning advertisers post-election, will be fleeting with an expected return to overall decline thereafter.
Current challenges for local broadcasters are starkly contrasted by their financial status just five years ago, underscoring a significant shift in the media landscape.
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