The document discusses the U.S. television industry, including its audience size, ownership trends, delivery options, and regulatory environment. It notes that the industry was historically dominated by the big three national broadcast networks (ABC, CBS, NBC) which had over 80% of primetime viewers in 1983. However, ownership restrictions and the growth of cable/satellite have led to increased options for viewers and consolidation among media companies over time. Regulation aims to balance competition and diversity with localism and public interests.