Publishing - Overall income decrease of 22% since 2012
+ $351M as adjusted operating income (down 13% YoY)
- $3.071B as adjusted operating expenses (down 3% YoY)

Broadcast - Large increase driven by record non-presidential political revenues, the expansion of the television station portfolio, Winter Olympics advertising, and a significant increase in retransmission and digital revenue. (2012/2013 YoY income reported a 15% loss)..

+ $767M as adjusted operating income (up 103% YoY)
- $925M as adjusted operating expenses (up 102% YoY)

- US digital video viewership rose 32% quarter over quarter in Q1 2015, compared with a decline of 4% for TV viewers—both trends that had accelerated since Q4 2014.(http://www.emarketer.com/Article/Advertisers-Focus-on-Original-Digital-Vide...)

- Original digital video (ODV) programming, which had increased its share of digital video spending steadily over the past three years, from 34% in 2013 to 40% in 2015. (http://www.emarketer.com/Article/Advertisers-Focus-on-Original-Digital-Vide...)

- Video advertising on desktop devices alone is expected to grow 21% annually until 2019, when it will contribute 54.6% of total desktop display ad revenue across the Web. - Forrester Research
(http://blogs.wsj.com/cmo/2014/10/06/forrester-us-online-display-ad-spending...)

Year-over-year adjusted operating expense comparisons for 2014 and 2013 reflect primarily the impact of the Cars.com acquisition and higher expense related to strong revenue growth at CareerBuilder.

+ $182M as adjusted operating income (up 30% YoY, compared to 6% in previous YoY)
- $737M as adjusted operating expenses (up 21% YoY)

We have until 2018. That's when the balance tips and digital overtakes TV as the primary source for ad spend (36.4% of total advertising budget).

(http://totalaccess.emarketer.com/Reports/Viewer.aspx?R=2001298)