The local and national aspects of broadcast television may be running headlong into one another. Stations may call the networks' bluff if they feel they can make more money as independents with syndicated programming and local news. We've already seen Nexstar lose/pull Fox affiliations rather than share retransmission consent revenue, and at least two MyNetworkTV affiliates have pushed that network's programming into late hours in favor of syndicated programming and news.
The problem is, without the major networks cord-cutting is a lot less attractive. The Big Four, with their cable investments, may see that as a good thing, and local stations may be as worried about the loss of retransmission consent revenue as anyone, but the viability of broadcast television ultimately depends on the major networks.
With cord-cutting and a la carte potentially on the horizon, the Big Four need to rethink how they see the broadcast networks. The broadcast division will never make as much money as a cable network, but it also won't be limited to just the people who choose to pay for it (or for cable in general). The broadcast networks could be the last bastion of truly mass media if broadcast's advantages are recognized and the broadcast spectrum protected. Advertisers will pay to reach a truly national audience, as the Super Bowl proves every year, and cable might not remain an acceptable substitute for long. That may make the broadcast networks a bit of a loss leader, but one not to throw away lightly.
