2.9.1.4Vertical
Television Networks & Broadcasters
National television network operators distributing content broadly.
Market snapshot
These figures describe Broadcast Media (TV & Radio) (2.9.1), the segment that Television Networks & Broadcasters sits within — not Television Networks & Broadcasters on its own.
- Market size
- ~$45B
- Growth
- ~-8%CAGR (2017–22, nominal — declining)
- Companies
- ~6,400
FragmentationConsolidatingEstimate
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 516110/516120 (radio/TV broadcasting; 2017 codes 5151xx). Decline reflects cord-cutting and a NAICS-2022 reclassification of some content into streaming (516210).
Business model & economics
Revenue model
Advertising plus retransmission and carriage fees
Key economics
- Recurring revenue
- Moderate
- EBITDA margin
- Pressured as the model erodes
- Capex intensity
- Moderate
carriage fees recur; advertising is cyclical
Characteristics
- Structurally declining from cord-cutting and digital ad shift.
- Local TV retains value via retransmission and political ad cycles.
- Radio hit hardest, with operators restructuring.
M&A deal context
Deal activityModerate
Who’s acquiring
- TV station-group consolidators
- Distressed-asset acquirers
- Radio & audio platforms
What’s driving deals
- Consolidation among TV station groups.
- Distress and restructuring in radio.
- Retransmission and political-ad value in local TV.
Find Television Networks & Broadcasters acquisition targets
Search Acquisera’s index for companies classified under Television Networks & Broadcasters (2.9.1.4) and build a targeted deal pipeline.
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