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Mr. McCormack attributed the broadcast unit's gains to "better ratings and higher retransmission consent fees".
A survey by the Guardian in April found some refused short-term lets completely, while others asked up to £295 in consent fees.
These consent fees, which are the city's going rate for private businesses to lease public real estate, were doubled or tripled in 2003, when the regulations changed.
He said that the break-even calculation excluded fees from retransmission consent fees that broadcasters demand from cable systems to retransmit their signals.
"The idea that they need retransmission consent fees, which have just come along in the last several years, to survive seems not right to me".
Thanks to the antennas, it says, it has no obligation to pay what are known as retransmission consent fees to local stations.
Similar(37)
Traditional broadcasters saw their advertising income slow, but they compensated by charging cable companies for carrying their content, a "retransmission consent" fee made possible, in 1992, by the Cable Television Consumer Protection and Competition Act.
The broadcast networks receive about ten per cent of their revenue from cable companies, which are required to pay them a re-transmission consent fee for displaying their programs.
The company managed to settle a dispute with its bondholders, whom it had called "vulture investors" in court complaints, getting them to sign waivers on its defaults after offering a $12.50 consent fee for every $1,000 in debt.
In the end Mr. Root consented: his fee would be $50,000, the sum to go to Hamilton College.
The cable division benefited from what the company called "a more than doubling of retransmission consent revenues," the fees paid by cable and satellite companies to show local stations.
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