Americans of all ages embraced TV unhesitatingly. They felt no loyalty to network radio, the medium that had entertained and informed them for a quarter-century. When something came along that they deemed superior, they switched off their radios without a second thought. That’s the biggest lesson taught by the new-media crisis of 1949. Nostalgia, like guilt, is a rope that wears thin.
Teachout also points out that the new TV networks operated at a loss for many years before finding a path to profitability–a great reminder for new media entrepreneurs to keep tilling the soil.