The major broadcast networks (ABC, CBS, NBC) operate on free licenses of public spectrum in exchange for requirements to serve the public interest. They no longer do, and this is an obsolete model anyway. The spectrum should be auctioned off, with the proceeds used to pay down the national debt. Of course, the networks can bid on the spectrum, and they will win if broadcast networks are still the most highly valued use. What’s more likely to happen is that valuable spectrum will be reapportioned to the next generation of wireless applications, unleashing many more interesting options for consumers and businesses. The networks can continue to operate on cable, like hundreds of other redundant channels.