blocktimer n. an independent journalist or producer who buys airtime in order to broadcast programs on radio or television. (source: Double-Tongued Dictionary)
Further reading
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Arief v Celeador [2004] EWHC 1277 (Ch) at No 71: “However, as even an active production company can be a block-timer, it was far from clear to me that the term”block-timer” indicated sufficiently clearly to Celador that Arief (as I am here assuming) was an entity that would have little or nothing to do with production.”