They were once golden cash-cows, delivering millions of dollars to its stakeholders, and churning out stars across news, sport and entertainment. But the business of television has changed, due to new technology and a drier advertising environment.
Nine Entertainment was at the brink of bankruptcy, while Seven West recently failed to provide a profit outlook because of unstable conditions. And Channel 10 went through a very public cost-cutting program, which saw programs axed and jobs lost.
So where's the future for free-to-air TV? SBS Business Reporter Ricardo Goncalves reports.
