Dan Dennis said:
Traditional OTA broadcasting as we know it is dead. The body just doesn't know it yet. With competition from satellite, cable, and fiber optics, the old business model doesn't work any more. Viewership is splintered so badly, no one station can truly claim to be "dominant" anymore. And with Internet delivery of TV shows and movies beginning to come into its own, why would anyone want to sit in front of their TV anymore (even if it is HD) and just "watch" TV?
Terrestrial broadcasting isn't dead. In fact, given the declining economy, it could very well see a resurgeance with people dropping subscription television for free digital TV. You do have a point that internet delivery of dramas, sitcoms, and movies is coming into its own, providing more of an on-demand choice for entertainment. But in reality, all they've done is complement a regular linear broadcast instead of replace it.
And where are you going to go for live events like the award shows, election coverage, and major sports? As greedy as the NFL, NBA, MLB, and major college football get in making another devilish deal with ESPN or from starting their own channels, they aren't going to beat the reach of broadcast TV. You've still got to place The Finals, the World Series, the Super Bowl, and Ohio State/Michigan on a network TV. Again, they're complementing broadcast TV and not replacing it for the majority of people.
The business model has been adjusting for broadcast TV for a while now. The networks have had to rely on cheaper reality programming, and they've been quicker to axe underperforming shows. But to the extent that broadcasters will totally go away anytime soon is crazy. You don't see the same obselescence occuring with music delivery (moving from vinyl to 8-tracks to cassettes to CDs to MP3s).