▁will ▁not ▁be ▁allowed ▁to ▁ac quire ▁any ▁more ▁stations , ▁they ▁will ▁also ▁not ▁be ▁forced ▁to ▁sell ▁their ▁existing ▁port fol ios . ▁ ▁Most ▁commercial ▁stations ▁are ▁now ▁owned - and - oper ated ▁or ▁controlled ▁through ▁out s our cing ▁agre ements ▁by ▁group ▁own ers ▁( e ither ▁independent ▁companies ▁or ▁network - owned ▁subs idi ary ▁groups ), ▁with ▁a ▁relatively ▁limited ▁number ▁of ▁companies ▁that ▁remain ▁which ▁own ▁stations ▁in ▁five ▁or ▁fewer ▁mark ets ; ▁a ▁series ▁of ▁station ▁purch ases ▁that ▁have ▁occurred ▁since ▁ 2 0 1 1 ▁( when ▁the ▁S inc la ir ▁Broadcast ▁Group ▁acquired ▁the ▁Four ▁Point s ▁Media ▁Group ) ▁has ▁concentr ated ▁the ▁number ▁of ▁station ▁own ers ▁even ▁further , ▁as ▁a ▁result ▁of ▁increasing ▁competition ▁between ▁over - the - air ▁broad c aster s ▁and ▁subscription ▁television ▁out lets ▁as ▁well ▁as ▁to ▁increase ▁le verage ▁in ▁negoti ations ▁with ▁cable ▁and ▁satellite ▁prov iders ▁for ▁re trans mission ▁consent ▁( which ▁since ▁the ▁early ▁ 2 0 0 0 s , ▁has ▁increasing ly ▁become ▁a ▁primary ▁form ▁of ▁re venue ▁for ▁broadcast ▁networks , ▁which ▁have ▁required ▁their ▁affili ates ▁to ▁share ▁a ▁portion ▁of ▁the ▁re venue ▁received ▁by ▁pay ▁television ▁prov iders ▁as ▁an ▁additional ▁source ▁of ▁oper ational ▁re venue ). ▁ ▁Out s our cing ▁agre ements ▁( known ▁by ▁multiple ▁terms , ▁mainly ▁local ▁market ing ▁agre ements ▁( L MA ), ▁shared ▁services ▁agre ements ▁(