Radio syndication

Broadcasting syndication is the licensing of the right to broadcast television programs and radio programs by multiple television stations and radio stations, without going through a broadcast network. It is common in the United States where broadcast programming is scheduled by television networks with local independent affiliates. Syndication is less of a practice in the rest of the world, as most countries have centralized networks or television stations without local affiliates; although less common, shows can be syndicated internationally. The three main types of syndication are "first-run syndication", which is programming that is broadcast for the first time as a syndicated show and is made specifically to sell directly into syndication; "off-network syndication", which is the licensing of a program that was originally run on network TV or, in some cases, first-run syndication (colloquially called a "rerun"); and "public broadcasting syndication".

When syndicating a show, the production company, or a distribution company called a syndicator, attempts to license the show to one station in each media market or area, or to a commonly owned station group, within the country and internationally. If successful, this can be lucrative, but the syndicator may only be able to license the show in a small percentage of the markets. Syndication differs from licensing the show to a television network. Once a network picks up a show, it is usually guaranteed to run on most or all the network's affiliates on the same day of the week and at the same time (in a given time zone, in countries where this is a concern). Some production companies create their shows and license them to networks at a loss, at least at first, hoping that the series will succeed and that eventual off-network syndication will turn a profit for the show. A syndicated program is licensed to stations for "cash" (the stations purchase the rights to insert some or all of the advertisements at their level); given to stations for access to airtime (wherein the syndicators get the advertising revenue); or the combination of both. The trade of program for airtime is called "barter".

...
Wikipedia