Even before that we had "sweeps week" in broadcasting. This was the period of time where the big networks pushed out their biggest shows, miniseries and end of season episodes. This would lead into the nightly news which would also put together an extended expose on a headline-grabbing story. These stories would be heavily advertised during the prime time shows and would often be told over a period of nights. All of this was in service for high ratings that could be used to increase advertising rates.
So yes, all of this has happened before and will continue to happen as long as we live in a capitalist society.
So yes, all of this has happened before and will continue to happen as long as we live in a capitalist society.