Regarding the earlier question (posed a day or two ago) about why there is no
sale of broadcast spectrum given that only 15 percent of Americans receive
their TV via over-the-air signals:

To begin, the major networks have something like 40 percent of the U.S.
viewing market (I'm not sure of the exact percentage), which means they have a
little less than half their viewers accessing them via over-the-air signals
and half accessing via cable, satellite, etc.  Thus, if over-the-air signals
disappeared, the major networks would lose a huge number of viewers and
perhaps not have a viable business model.  Note that those who then subscribed
to cable or satellite would have more options and thus might not be so
inclined to watch the major networks.  

A related point is that the Natl Assoc of Broadcasters (NAB) is extremely
powerful.  Broadcasters offer an efficient way for Congress members to
advertise, which may be related to why we have a campaign financing issue.

Tom Hazlett made a good case (see "Abolish Television" piece in Financial
Times, or "The Spectrum Craze..." in Harvard Journal of Law and Tech) that we
could auction off the broadcast spectrum, use the proceeds to buy cable or
satellite for everyone who still uses rabbit ears, and have enough left over
to develop a cure for cancer, an AIDS vaccine, and an over-the-counter pill
for multiple orgasms.  (Okay, he didn't exactly say all of this, but it is
valuable spectrum.)

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