Tiny TV Stations, Huge Profits

Why should a TV station have a broadcast license? Most people have cable or satellite, and those who don't may stream video content over the web. But some tiny TV stations in big cities are finding that they can make big profits from their FCC-issued broadcast license. The Los Angeles Times reports.

Questions...

•Is this the beginning of the end for television? Why or why not?

•The broadcast spectrum is regulated for the public good. Which use should get priority: TV broadcasters or telecommunications? Why?

•You are manager of a TV station whose new owners are selling your place on the broadcast spectrum. What do you do? What are your options?