When I was a kid, my dad ran a small local business. Like countless owners, he depended on local broadcast media to reach customers, build trust in the community and keep the lights on to support our ...

Speaking at CES in Las Vegas on Thursday, FCC chairman Brendan Carr reiterated his view that the “balance of power” has shifted away from local TV affiliates and toward national broadcast networks.

In most years, a graph of annual local TV ad spending is about as predictable as an electrocardiogram of a reasonably healthy patient in a doctor’s office. Revenue spikes upwards on even-numbered ...