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TV Subscriptions Fall for First Time as Viewers Cut the Cord

The U.S. pay-television market is passing its prime.

The number of Americans who pay for TV through cable, satellite or fiber services fell by more than a quarter of a million in 2013, the first full-year decline, according to research firm SNL Kagan. If the slide continues in the coming years, that means 2012 was the industry’s high point.