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Because we pay for it with our taxes.

Am I missing something? I thought they pay the FCC to use the spectrum.

They pay a license fee for the spectrum, but do not own it. Because no one can own a frequency. So the frequency is licensed by the government.

Not transmitting OTA leaves little excuse to retain a broadcast license on that spectrum.

So what?

Exactly. They'd prefer not to. But then they can't charge the cable companies as much. A weird circle, huh?