Fox, NBC Stations to Pool Local Coverage
Here's a development I imagine will send chills through the entire TV news business - Fox and NBC owned-and-operated stations will pool their local TV news coverage in various markets, beginning with Philly in January. No word yet on NYC, but it will happen here too.
Why a chill? Because this will let stations from coast to coast combine resources, and when you see those words in conjunction, you know the next word is "layoffs." The local TV business is in desperate shape, with ad sales slumping and in the absence of political ads - which firmed up pricing - now about to slump even further.
Here's what the press release read: "The service will gather and distribute general market video coverage to the participating stations, allowing them to efficiently use resources to focus on more specialized franchise reporting. The stations will continue to operate independently in all other respects regarding their individual newsgathering operations."
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