Market and technological changes are creating challenges to the long-standing business models employed by broadcast television networks and local television stations, but at the same time generating potential opportunities for those networks and stations. These changes generally are strengthening the position of parties that control popular program content in their negotiations with distributors of that programming. The changes also may be affecting the three pillars of U.S. government media policy - localism, diversity of voices and competition - and damping the effectiveness of existing regulations intended to foster them. This book explores the transitions being made in broadcast television with a focus on the market forces affecting broadcast news networks and the Satellite Television Extension and Localism Act of 2010 (STELA).