Local Broadcast Television Stations
Moody predicts that when it's all said and done, $2.8 billion will be spent for political advertising on local TV, which will account for 9% of all local TV ad revenues. Moody suggests that the heaviest spending will come in October, and will be heavily targeted at markets in swing states. It also notes that which states are considered as "swing states" could vary as the campaigns continue and and the opinions of the electorate shift.
Wells Fargo analyst Marci Ryvicker concurred, noting that the top markets for political ad spending has already shifted several times over the last few months. She also upped her prediction for total political ad spending this cycle to $5.2 billion, as August's political ad expenditures were 77% higher than July's total.
Political advertising has always given a boost to local TV ad revenues, despite FCC rules mandating that stations provide them at their lowest rates. But as regular ad revenues stagnate or fall in a weak economy, and as political campaign spending has exploded, the regular injection of political funds can become a critical (if transient) source of station profits. And that's not necessarily a good thing.
Source - Local TV Stations the Real Winners This Election, TV Spy blog