Why TV Still Looks Pretty Good to Big Media

[Commentary] Television may have peaked, but it’s going to have a very long run ahead of it. That’s the thinking behind a series of big media moves in the past few years, where conglomerates that own big investments in TV have been doubling down -- or trying to double down -- by acquiring more TV assets.

Even if TV ad dollars are shrinking, TV still generates a lot of ad dollars -- that’s why Facebook, Twitter and everyone else on the Web wants a piece of the TV business.

Meanwhile, the fees that cable providers pay broadcasters for their programming, which had theoretically been threatened by Aereo, now look like they’ll continue to be reliable, high-margin cash-flow generators, after all.