Big bang: The coming upheaval in local TV

[Commentary] We could see TV broadcast stations shut down in markets across the country. Where there were five over-the-air stations, there may be only three, two or even one left. Many stations may choose to switch to airing on cable. Cord-cutters will be forced to subscribe to catch the local news. Other stations may go to streaming.

For media buyers, it could well mean fewer options and higher TV ad pricing, and that in turn could lead to shifts in ad spending to competing local media, such as radio, local cable, out of home and, of course, digital. It’s sure to have a huge impact on Hispanic television, perhaps leading to a shakeup in its ownership ranks and a severe winnowing of players that could play out over years. What’s this big event? A not widely understood spectrum auction.

[Stroud is a writer and a longtime media executive]