The networks know it, the advertisers on those networks know it, the network shareholders know it and even the Government knows it (waiving commercial broadcast licences last year).
Once the NBN reaches saturation levels in Australia, local OTA TV will be finished.
The 'big four networks' will struggle to survive as commercial entities. Viewer dilution is occurring already, it's only going to get a lot worse in the next few years.
The big money will flow to the likes of Foxtel, Netflix, Google TV and any number of possible online content providers imho.