Broadcasters brace for yuge financial hit

Donald Trump is back on Must See TV, and while the ratings are expected to be “yuge” — Thursday’s telecast from Washington is one show the President probably won’t want to brag about.

Former FBI Director James Comey’s congressional testimony in which he will be grilled about how or if Trump sought to obstruct the agency’s probe into his campaign’s relationship with Russia will be a rare congressional marquee event, like Watergate in the 1970s, Iran-Contra in the 1980s and the Monica Lewinsky scandal in the 1990s.

The spectacle, which begins at 10 a.m., will be carried live on every major television network, cable news channel, radio and streamed online.

Despite the size of the expected audience, broadcasters are expecting to take a financial hit, because if Comey's testimony lasts until around 1 p.m. as many think it might, every broadcaster that carries the telecast will lose around 45 minutes worth of advertising. Generally television averages about 15 minutes of commercials per hour.

Doing some very rough, back-ofthe-envelope math, the testimony could cost broadcasters millions. For example, the average rate for advertising during the 10 a.m. hour of NBC’s “Today” show is about $12,000 per 30-second spot, according to industry reports. Give or take some, that figures to be a loss of around $350,000 per hour.

Similar math applies to CBS, ABC and to a lesser extent, cable channels like CNN and Fox News, which charge less and have smaller audiences.

Either way, like any really good TV show, this is going to be an expensive production.