Profits from TV broadcasters plunged by 93 percent last year, from $113 million in 2007 to only $8 million in 2008.Apart from the recession, many private broadcasters have seen the profitability of conventional TV stations squeezed by competition for advertisers and viewers from specialty channels and the Internet.
More people, especially young people, are turning off TV altogether. It's not merely the attraction of the Internet but the lack of quality news and programming delivered by broadcasters.
Ironically, what do viewers get for this loss in quality? More commercials.
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