You have swerved into a very important point here. Network News Divisions have never made money for the parent companies. They've only existed at the beneficience of the entertainment divisions and because they had political clout.
As people become less and less dependent on Network News, their political clout lessens. There will come a time when the profit pinch is such that the networks just won't have to money pay for that luxury any more.
By the end of the decade, Network News, as we know it today, will cease to exist...
In another year, she'll be on the wrong side of 50. How's that for a prospect CBS? If I was Rupert Murdoch, I would tart up some 20 something blonde bimbo, put her in a bikini and have her read the news. Can you say ratings bonanza?
While I myself am not in the business, some very good friends of mine owned quite a few stations around the country until recently. They ALWAYS made money from the news. It was the cheapest programming to produce. I have a hard time imaginging that small independents could make the most of their income (bottom line that is not total revenue) from News while the big networks lose at it?