Obama Has Cost TV Networks $30 Million

Looks like Fox News is once again going to be an innovator in broadcast news:

Broadcast network executives are said to be furious that President Obama's prime-time news conferences have cost them about $30 million in ad revenue. The Hollywood Reporter says they are quietly hoping that FOX Broadcasting Company's refusal to air the most recent one has set a precedent. One network executive who spoke on condition of anonymity says: "The FOX decision gives us cover to reject a request if we feel that there is no urgent breaking news."

FOX aired the president's first two prime-time news conferences. But, the second one preempted "American Idol," costing the company millions. So executives passed on the April 29 event. Now other networks may follow suit says an anonymous network executive: "The millions of ad dollars the president is costing us could help us keep some people working."

President Obama's last news conference drew about 20 million fewer viewers than his first. While the FOX Broadcast Network did not air it, it was of course available on the FOX News Channel and on the FOX Business Network.

With Fox leading the way, I'm guessing the next presidential prime time special will be covered by even fewer broadcast networks. NBC has two cable news channels so they'd be the most likely to dump Obama on the broadcast side.