are growth propects over for tv networks

are tv stations stuffed?
Had a discussion with a savvy analyst who reckons tv networks are heading for the junkyard due to limited growth. Anyone know how they will combat pay tv and the internet?? Who watches commercials when you don't have to? Surely this sector is gone? If so poor Eddy will need plenty more majic imho.

I think Newscorp will be the king of the domain from hereon. Its shareprice reinforces this view imho.